Commercial Aircraft Sales and Leasing (CASL) is a common phrase used to describe organizations which typically market used commercial airliners and related equipment to governments and other various customers from manufacturers such as Airbus and Boeing as a primary function. CASL companies are often referred to as aircraft lessors.
Small startup airlines which are usually not in a financial position to afford brand-new factory-direct aircraft, or established carriers who prefer to maintain flexibility by leasing rather than owning their aircraft, will typically work with a CASL company to locate and procure used aircraft for lease or finance. The aircraft may be provided to the airline on the basis of an operating lease or a finance lease.
A number of commercial banks, hedge funds and financial institutions are active in the aircraft leasing business: the two largest and best-known CASL companies are General Electric Commercial Aviation Services (GECAS) and International Lease Finance Corporation (ILFC). Their independent revenues rank into the billions of dollars.
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