RE:Aercap Lease TerminationWords from Mark Morabito on the Jetlines Investors Group on Facebook:
Mark Morabito I just returned from NYC last night for Jetlines. We have a full credit on our deposits with Aercap for the money as long as we conclude leases in 2020. That fact will be fully disclosed in our financials. Smartlynx, the Koreans and our bankers all wanted us to take planes closer to launch and wanted our launch date pushed out. He who writes the checks makes the rules. Retail market doesn't understand. This is a buying opportunity. Jetliner wrote: I'm wondering if there were any penalties involved in the termination of this lease agreement with Aercap for the two Airbus A320 aircraft? The October 11, 2018 press release by Jetlines indicated that payments totalling USD $2,190,000 towards those aircraft had been made. Curious to know if Aercap let Jetlines off the hook for the full deposit amount or were there penalties? That's a wack of cash they put down. I hope they had better luck getting refunds from a deposit than I've had in the past.