extended, probably at a lower rate. But over a much longer period of time, we hope to achieve equivalent recovery. I think the point that Greg was making with our customer request is, we just don't -- a customer comes to us, said, "Hey, we need lower lease rates." We don't just roll over tomorrow and say, "Okay, here you go." We know that our aircraft are flying. One of the first things we do is we look at our utilization, our airplane is flying. And if so, how much? And that gives us a very good idea of how much and how dependent the airline is with our aircraft. So we try and approach it first from a deferral point of view and say, "Hey, look, we'll give you a little break. We'll reduce your lease payments so much or X percent for a period of time, but you pay it back."
That's always our first step. We're not so easy on the restructurings. But having said that, because it's usually easier to keep the original lease. And if you do a deferral, you still keep the original lease and preserve those economics. I think that's what Greg's point was. But where we do have to do restructurings, yes, we do link that to lease term, and we try. We don't always get, but we try and get over time an equivalent economic recapture as the aircraft depreciates every year. Every year, we try and get an equivalent result. But as you can imagine, with lower lease payments over a longer period of time, the present value of that is less. So that's basically how we look at it.
Steven F. Udvar-Házy: Yes. I just want to add that with the quality of the way we handle these arrangements can also lead to incremental business. We've had a number of situations where we've worked with airlines in 2020 and in the first half of this year to help them out temporarily, and they were very appreciative and grateful for what we did, not only on our aircraft, but helping them with other suppliers, with the OEMs. And consequently, they entered into commitments to lease additional aircraft from us for future delivery. So the way we handle these things are very, very much based on relationships and how we can enforce the financial viability of that airline in the future, which could then lead to incremental business for Air Lease.
Vincent Albert Caintic: Okay. Great. That's very helpful. And then a related follow-up question. So on the cash accounting, it was very nice to see the Aeromexico full repayments of what had previously been cash accounting. When you look at sort of the rest of the airlines that you've accommodated or that you have -- you're talking to, do you see more claims recoveries or anything else happening for the rest of the year, for the next couple of quarters?
John L. Plueger: Well, that's really hard to predict, Vincent. I can just say that right now there's really no imminent bankruptcies that we're looking at. So remember, we sold this claim pursuant to a bankruptcy action. And so we're really not in that situation imminently with any of our customers. And we can't -- we, of course, can't make any assurances going forward that we would get a similar result. I think Greg made that comment in his remarks. So generally speaking, I think airlines going into bankruptcy and restructuring is not new just to this pandemic. We've seen this over decades in our business. Certainly, the pandemic has accelerated it. But I think we know how to manage this process.
And in the case of Aeromexico, we were able to get a nice payout from that claim. But there's really nothing on the horizon that I can point to that just says, well, we're going to get X claims from X number of customers. Because most of them really -- the ones that have entered into bankruptcy are in bankruptcy. We have a few smaller ones, very smaller ones like Air Mauritius, they've been in bankruptcy for a while. But there's really nothing imminent on the horizon that we're aware of today.
