A Study On Asset Securitization Of Operating Lease For HNA Group

As a transaction mode of financing,leasing business has been widely recognized in domestic and foreign markets.Especially in the field of,such as,aircraft,ships,medical facilities and other large equipment.The use of the leasing effectively reduces the demand of funds,lifting efficiency the use of funds,which is regarded as the main model of financing in the field of aviation.And because of the change of accounting standard of leasing,the exploration of asset securitization of aircraft leasing assets will be an effective supplement of financing,which has important significanceThis paper analyzes the theoretical basis and current situation of asset securitization.Study the adverse effect of the accounting-rule change of operating lease,combining the development of the securitization market in and abroad.Taking the example of HNA group,I have been doing the research the asset-based-securitization of the C leasing company,in the way of field investigation,materials collection,data analysis and taking part in the discussion and study with securities traders.With multi-angle analyses of project asset securitization market,the project team members and I decide to take residual value of aircraft as the underlying assets of the model which makes innovations for financing method of the corporations.The research shows that,securitization provides a good and effective option to meet the capital needs,increase the capital utilization rate,improve the management ability of assets and liabilities,optimize the financial situation,and reduce the financing cost.Adding the aircraft residual value into underlying asset will increase the issuance scale,which is the great innovation in designing Securitized Products.But at the same time,we shall deal with the problems such as the residual value confirmation,credit structure and foreign exchange control and other difficulties of policies and regulations.These results suggest that we shall actively proceed with the aircraft leasing assets securitization in our country,and on the other hand seek solutions of the existing issues in order to accomplish the project successfully.