RE: New airline, and Apple Vaccations has already nicked a 757 from thomas cook!

[updated:LAST EDITED ON 08-12-02 AT 00:46 AM (GMT)]To further confuse the wet/dry lease issue, there are also operating/finance leases which is a more standard (outside the airline business) term for wet/dry. The one where the lessee provides their own crew/maintainance etc. may count as a finance lease, whereas the one where the lessor provide the crew/maintainance etc. are counted as operating leases. Sorry, but I can’t remember which way round the wet/dry is (trust airlines to invent their own peculiar terminology!)

You will find that airlines include finance leased aircraft on their balance sheets, but not those on operating leases. This is due to a UK accounting standard, “reporting the substance of transactions”.

On a finance lease, the lessee enjoys the benefits of ownership of the aircraft and also bears the costs of ownership. In this regard, it is akin to the airline buying the aircraft from the lessor by means of a loan which is secured on the aircraft. That’s why finance leased aircraft are on the books of the airlines operating them and NOT the lessor’s books. Globally, accounting standards are converging and they are centring around the UK standards (yippee!) so expect to see this apply to all airlines (even US carriers) within 5 years.

Ref:
Lessor = legal owner
Lessee = operator

RE: Thrust reversers

That’s scary!

Didn’t inflight deployment of the reversers cause the Lauda Air B767 crash a few years ago?

RE: what does Cricket mean ?

Yes wombat, I meant footy – real sport!

Climate has a lot to do with it – the Aussies are usually good at most sports, at least partly because of the climate. Kids at school enjoy playing sport in the sun, but in the cold wet mud they feign injuries (or was that just me?!)

Also, I remember playing cricket at school. We were never taught how to play, what the rules were or any technique. We were male – we were supposed to know this sort of stuff. With rugger and footy, the sport is popular and we DID know it all. But not so with cricket.

Where does the word originate? No idea!!

RE: Pic of the night.

Nice – I’m going on one of those in a few weeks, MUN-MXP.

RE: Go On….Ask Me Anything!

…hence the advent of wicketcams for televised matches.

Similar sort of instant and tough decision that linesmen (oops, I meant “assistant referees”) have to make in relation to offside. Except in footy the ball is bigger but they still can’t call it right!

RE: National Anthems

Yeah, but how many national anthems change their title every time there is a new head of state?

God save the king as soon as lizzy pops it!

RE: What is the meaning of life?

Well, there always IS someone worse off than you – in the same way that there is alwways someone better, or taller, or richer, or brigthter than you. I don’t think someone else suffering helps me, but the thought that things could be worse definitely does help, if only to encourage me to pull my socks up and sort myself out.

RE: what does Cricket mean ?

National pride will be restored in London next year when the Aussies are beaten at a proper sport!

No idea where the word originates though. Interesting point! It must be one of those foregein words which got anglicised.