Air lease agreements

An air lease agreement is a legal contract where an aircraft owner (lessor) rents their airplane to another party (lessee) for a specified period, often for commercial or private use. The agreement details the terms, including lease duration, payment, maintenance responsibilities, and operational conditions. It helps both parties clarify rights and obligations, ensuring the aircraft is used properly and returned in good condition. This arrangement allows operators to access aircraft without buying, while owners earn revenue and maintain control over their assets during the lease period.