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 LGS
operates on an "exchange asset" basis. As such, exchange
assets (i.e. landing gear systems) are held by the Company
for the purpose of exchanging them with a customer to allow
the customer's aircraft to return to service in the
shortest possible time. In a typical transaction. an
overhauled landing gear ship-set is exchanged with a
customer's "as removed" landing gear and the customer is
billed for the establishment cost of a standard overhaul.
Subsequently, the "as removed" landing gear received from
the customer is overhauled and a second invoice is created
to account for the replacement of non-standard parts
incurred during the overhaul process to return the gear to
flight worthy status.
LGS
currently maintains an inventory of eleven landing gear
ship-sets which are compatible with various models of the
Boeing 727 and 737 aircraft.
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