Lease accounting and lease management designed for the aviation industry
Managing your aviation lease portfolio
Aircraft leasing, aeronautical and terminal side leases, among other agreements, form a large part of your aviation business. We know how important it is to manage your portfolio as closely as possible – especially when it comes to making informed decisions about your business.
With leases and sub-leases stored in all manner of places, it can be difficult, if not impossible, to produce accurate, useful, consolidated reports on your fleet, property and asset portfolios.
Changes to lease accounting – IFRS 16
If lease management wasn’t challenging enough, the aviation industry is faced with the adoption of IFRS 16, the new lease accounting standard – effective 1 January 2019, which could make leases the most material item on your balance sheet.
The new requirements will directly impact the financial performance and value of your airline so it’s essential you get it right. Given the prevalence of leasing big-ticket items like aircraft, we expect you to see an increase in recognised assets and liabilities, more leases recognised in earlier periods of a lease and less in later periods, a shift in lease expense classification and amortisation, and an increase in net debt/EBITA ratios.
Implementation of IFRS 16 can be a minefiled, so we highly recommend you invest in a trusted, IFRS 16 compliant, lease management and lease accounting software solution.
Nomos One can help
Nomos One is the complete, cloud-based, lease management and lease accounting software solution for the management of leases, sub-leases, licences, sub-licenses, easements, grants, resource consents and general contracts.
With our software, you’ll benefit from automated calculations, a clear simple dashboard, event reminders, intuitive workflow, custom reports and fields, and the ability to automatically generate legal documents.
Our robustly tested IFRS 16 module automatically calculates right-of-use assets and lease liability and generates journals, depreciation and interest schedules, giving you complete confidence in your IFRS 16 compliance.
“The dashboard is very intuitive. The infographic is so clearly represented and documents are so accessible, you wonder how asset managers performed without this critical date driven tool in the past.”
Property & Commercial Manager