• Alpha Airlines, a major airline operator, embarked on a fleet expansion program to meet growing demand for air travel. The expansion initiative involved the acquisition of new aircraft through operating leases, finance leases, and outright purchases, each with unique financing terms and ownership structures. Evaluate the impact of the economic entity principle on the classification, measurement, and presentation of leased and owned assets in Alpha Airlines' financial statements, considering implications for balance sheet integrity, income statement classification, and cash flow disclosures, and propose strategies for effective financial management and stakeholder communication.