Jetrader - Spring 2018 - 48

maintenance status or information provided
to the appraiser or from the appraiser's
own database. A desktop appraisal would
normally provide a value for a mid-time,
mid-life aircraft.

Extended Desktop Appraisal
An extended desktop appraisal is the
next higher level of precision and is used
where the maintenance status of the airframe, engines, landing gear and auxiliary
power unit is taken into account to "extend"
(or "adjust") the valuation calculations to

include the actual maintenance status of
these major elements.

ISTAT Definition:
Extended Desktop Appraisal
An extended desktop appraisal is one
which is still characterized by the absence
of any on-site inspection of the aircraft or
its maintenance records, but does include
consideration of maintenance status information that is provided to the appraiser from
the client, aircraft operator, or in the case
of a second opinion, possibly from another

ISTAT defines five types
of aircraft appraisal:
*
*
*
*
*

Desktop Appraisal
Extended Desktop Appraisal
Full Appraisal
Comprehensive Appraisal
Financial Appraisal

appraiser's report. An extended desktop
appraisal would normally provide a value
that includes adjustments from the mid-time,
mid-life baseline to account for the actual
maintenance status of the aircraft.

Full Appraisal
A full appraisal goes to the next higher
level of precision with a physical inspection
of the aircraft and its records. This inspection is limited to supporting the valuation
analysis and mainly is focused on extracting and reviewing records that establish
the maintenance status of the aircraft and
a walk-around style inspection to observe
the general condition of the aircraft, with
photographs taken. The maintenance status
of the major maintenance items is taken
into account as in an extended appraisal.

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VOLUME MATTERS

ISTAT Definition: Full Appraisal
A full appraisal is one that includes an
inspection of the aircraft and its maintenance records. This inspection is aimed
solely at determining the overall condition of the aircraft and records to support
the value opinions of the appraiser, and
would not, for example, include opening
of inspection panels on the aircraft or a
detailed review of record archives. A full
appraisal would normally provide a value
that includes  adjustments from the midtime, mid-life baseline to account for the
actual maintenance status of the aircraft,
and possibly other adjustments to reflect
the findings of the inspection of the aircraft
and its records.

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Comprehensive Appraisal
A comprehensive appraisal is used to
determine the condition of the aircraft
and the completeness and accuracy of
the aircraft records so that a determination of airworthiness can be made (i.e.,
to determine whether the aircraft is in
full compliance with all applicable regulatory requirements). As one example,

Learn more at precisionaircraft.com

48 The official publication of the International Society of Transport Aircraft Trading
10/10/17

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Jetrader - Spring 2018

Table of Contents for the Digital Edition of Jetrader - Spring 2018
