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Commission Delegated Regulation (EU) 2018/179Show full title
Commission Delegated Regulation (EU) 2018/179 of 25 September 2017 amending Regulation (EU) No 1233/2011 of the European Parliament and of the Council on the application of certain guidelines in the field of officially supported export credits
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PART 3 USED AIRCRAFT, SPARE ENGINES, SPARE PARTS, MAINTENANCE AND SERVICE CONTRACTS
CHAPTER I Coverage
18.USED AIRCRAFT AND OTHER GOODS AND SERVICES
This Part of the Sector Understanding shall apply to used aircraft and to spare engines, spare parts, conversion, major modification, refurbishing, maintenance and service contracts in conjunction with both new and used aircraft and engine kits.
CHAPTER II Financial terms and conditions
The financial terms and conditions to be applied, other than the maximum repayment term, shall be in accordance with the provisions set out in Part 2 of this Sector Understanding.
19.SALE OF USED AIRCRAFT
(a)
Subject to paragraph (b) below, the maximum repayment term for used aircraft shall be established in accordance with the age of the aircraft, as set out in the following table:
| Age of Aircraft (years since the date of original manufacture) | Maximum Repayment Terms for Asset-Backed or Sovereign Transactions (years) | Maximum Repayment Terms for Transactions neither Asset-Backed nor Sovereign (years) |
|---|---|---|
| 1 | 10 | 8,5 |
| 2 | 9 | 7,5 |
| 3 | 8 | 6,5 |
| 4 | 7 | 6 |
| 5-8 | 6 | 5,5 |
| Over 8 | 5 | 5 |
(b)
The maximum repayment term for aircraft that have undergone conversion, provided the transaction meets all the requirements of Article 19 of Appendix II and provided further that official support, if any, provided in respect of such conversion was not provided in accordance with Article 21(a) below, shall be established in accordance with the period of time since the date of conversion and the age of the aircraft, as set out in the following table:
Maximum Repayment Terms for Asset-Backed Converted Aircraft (years)
| Period of Time Since the Date of Conversion (years) | Age of Aircraft(years since the date of original manufacture) | |||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5-8 | Over 8 | |
| 0 (Newly converted) | 10 | 9 | 8 | 8 | 8 | 8 |
| 1 | 10 | 9 | 8 | 7 | 7 | 7 |
| 2 | — | 9 | 8 | 7 | 6 | 6 |
| 3 or more | — | — | 8 | 7 | 6 | 5 |
20.SPARE ENGINES AND SPARE PARTS
(a)
When purchased, or ordered in connection with the engines to be installed on a new aircraft, the official support for spare engines may be provided on the same terms and conditions as for the aircraft.
(b)
When purchased with new aircraft, the official support for spare parts may be provided on the same terms and conditions as for the aircraft up to a maximum 5 % of the net price of the new aircraft and installed engines; paragraph (d) below shall apply to official support for spare parts in excess of the 5 % limit.
(c)
When spare engines are not purchased with a new aircraft, the maximum repayment term shall be eight years. For spare engines with a unit value of USD 10 million or more, the repayment term may be increased to 10 years, provided the transaction meets all the requirements of Article 19 of Appendix II.
(d)
When other spare parts are not purchased with a new aircraft, the maximum repayment term shall be:
(1)
Five years with a contract value of USD 5 million or more.
(2)
Two years with a contract value of less than USD 5 million.
21.CONTRACTS FOR CONVERSION/MAJOR MODIFICATION/REFURBISHING
(a)
If a transaction for conversion:
(1)
Is valued at USD 5 million or more, and
Meets all the requirements of Article 19 of Appendix II, a Participant may offer official support with a repayment term of up to eight years.
Does not meet all the requirements of Article 19 of Appendix II, a Participant may offer official support with a repayment term of up to five years.
(2)
Is valued at less than USD 5 million, a Participant may offer official support with a repayment term of up to two years.
(b)
If a transaction is for a major modification, or refurbishment, a Participant may offer official support with a repayment term of up to:
(1)
Five years if the contract value is USD 5 million or more;
(2)
Two years, if the contract value is less than USD 5 million.
22.MAINTENANCE AND SERVICE CONTRACTS
The Participants may offer official support with a repayment term of up to three years.
23.ENGINE KITS
The Participants may offer official support with a repayment term of up to five years.
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