Glossary
Exchange
An exchange is a transaction where the buyer receives a serviceable unit immediately and returns their removed unit, the core, to the seller, paying an exchange fee plus any repair costs on that core. The buyer gets the aircraft flying without paying the full purchase price, which matters when a single rotable can cost six figures. In an outright sale, by contrast, the buyer keeps the part and pays the full price with no core return.
Also known as: exchange transaction, core exchange