Commercial aircraft leasing contracts are rather more comprehensive than GA
For example, there are 'trigger' events that set off a series of steps that may result in re-possession.
These events can include:
Failing to make payments.
Failing to maintain.
Failing to insure.
Failing to maintain specified financial ratios (like current assets to current liabilities).
Action by other parties to recover debts.
War, revolution, nationalisation, civil unrest.
Sale of airline.
Sub-leasing of aircraft (usually requires leasors approval).
In the event of a re-possession, the aircraft log, all maintenance records, as well as the aircraft are possessed, so this often requires co-ordinated action in different cities/countries.
Recovering a whole leased plane can be a challenge, as no guarantees the engines originally leased with the aircraft are still attached.
Not everything is owned by the leasing company. For example, fuel, IFE, extra equipment. This will be documented, and either returned, or credited to the outstanding account.
If you have seen re-possession agents on TV
, this is not usually how it is done in the commercial aviation world, especially in 2005.