后疫情背景下飞机租赁业务风险防范及政策建议——基于金融机构视角  

Risk Prevention and Policy Recommendations for Aircraft Leasing in the Post-COVID-19--From the Perspective of Financial Institutions

作　　者：林志敏 Lin Zhimin

机构地区：[1]国家开发银行海南省分行

出　　处：《开发性金融研究》2023年第1期87-96,共10页Development Finance Research

摘　　要：飞机租赁业务一直被誉为租赁业“皇冠上的明珠”,连接着航空产业链的上下游企业,为航空企业提供融资和融物的双重功能,促进了航空业的快速发展。2020年初以来,新冠肺炎疫情暴发并席卷全球,其间受航油价格上涨、人民币贬值叠加冲击,给航空业及飞机租赁行业带来了重创,深刻检验了各飞机租赁公司的抗风险能力。金融机构作为飞机租赁业务最终的债权人,面临租金延期、贷款逾期、飞机押品贬值等风险。同时,2021年2月,HH集团被法院裁定进入破产重整程序,有关航司披露了部分飞机发动机重复融资诉讼案件,给金融机构的债权安全带来了潜在风险。如何在后疫情背景下做好飞机租赁业务的风险防范,对于金融机构的债权安全及租赁行业的健康、可持续发展至关重要。本文以飞机租赁业务的交易结构为研究基础,通过杜邦分析法对飞机租赁公司的风险进行分析,识别新冠肺炎疫情下飞机租赁业务存在的风险,并提出相应的风险防范措施,旨在为金融机构及租赁公司飞机租赁贷款业务风险防控提供参考。The aircraft leasing has always been known as the“pearl in the crown”of the leasing industry,which connecting the upstream and downstream enterprises of the aviation industry.Aircraft leasing promotes the rapid development of the aviation industry.Since the beginning of 2020,the outbreak of COVID-19 had swept the world,accompanied by rising jet fuel prices,RMB devaluation and other factors,which brought heavy losses to the aviation industry and the aircraft leasing industry.As the creditor of aircraft leasing,the financial institutions are faced with such risks as rent delay,loans overdue,depreciation of aircraft collateral value.At the same time,in February 2021,HH Group was adjudged to go bankrupt by the court,and some lawsuit cases of repeated financing of aircraft engines were also announced by listed airlines.These lawsuits bring potential risks to the financial institutions.The risk prevention and control of aircraft leasing under the influence of COVID-19 is crucial to the financial institutions and beneficial fo the healthy and sustainable development of the aircraft leasing industry.Based on the aircraft leasing transaction structure,this paper first analyzes the risks of leasing companies through DuPont analysis method,then identifies the risks of aircraft leasing under the influence of COVID-19,and finally proposes corresponding risk prevention measures,which aiming to provide helpful suggestions for financial institutions and leasing companies to control the risks of the aircraft leasing business.

关 键 词：飞机租赁 杜邦分析 风险识别 风险防范 

分 类 号：F832[经济管理—金融学] F562