'With three generations of planes out there, anyone buying classics has a potential greater residual risk'
David Dickson, the head of audit for the aviation industry at Ernst and Young, a department which audits 20 of the top 30 airlines in the world, speaks to Aviation Finance about the major accounting concerns for lessors and airlines. He highlights the management of residual values as a primary consideration. On the issue of the compatibility of accounting standards, industry bodies are pushing for the inclusion of leasing assets on balance sheets, but Dickson says, 'this is not as big a deal for airlines.'

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