This session explores the evolving relationship between airlines and lessors as air travel rebounds to pre-pandemic levels. While lessors continue to hold significant sway in the market, traditional lease terms are facing renewed scrutiny. The growing adoption of Flight Hour Maintenance Program (FMP) contracts is beginning to reshape asset liquidity and challenge established norms. With the Asia-Pacific region on the cusp of remarkable fleet expansion, the central question becomes: will airlines find new opportunities to negotiate, or do lessors still firmly control the future of fleet planning?

• "Hell or High Water": Sacred Clause or Outdated Relic? Airlines want flexibility in crisis; lessors defend the clause as essential to financing. Should systemic risk be shared, or are airlines rewriting the rules post-COVID?
• Carve-Outs: Are lessors are conceding on once-untouchable term to accept carve-outs to win a key airline deal?
• FMP Contracts: Are FMPs a fleet strategy evolution or a hidden liability?