How to Lease an Aircraft
An aircraft is typically leased to avoid the expense of purchasing and maintaining one but when the aircraft is required for a longer period than would be practical with a charter. Leasing provides a middle ground to those looking for easy and consistent access to a private airplane.
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Instructions
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Leasing an airplane
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A small prop plane for lease Contact lessors who have access to the type of plane you are looking for and determine if they offer the it crewed (referred to as a "wet lease" and geared towards shorter-term leases) or if you must provide all or part of the crew yourself (referred to as a "dry" or "damp" lease and aimed at longer-term leases).
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The length of time you need the aircraft will determine the type of lease you take Determine how long you will need the craft. If you require long-term access, look for a dry lease. If you require the aircraft for only a short time, a wet lease will suffice.
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A wet lease comes with a crew to operate an airplane If wet leasing the plane, agree with the lessor on an hourly rate. You are responsible for fuel, taxes, duties, fees, and flight numbers. The lessor provides the crew and is responsible for maintenance, insurance and storage in most cases.
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A dry leased airplane comes without a crew If dry leasing, you must also provide storage, maintenance, insurance and an Air Operators Certificate in addition to fuel, duties and taxes. These types of leases typically last at least two years.
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The lease agreement exists to protect both parties Agree to terms with the lessor and draw up a contract to be signed by both parties. This will be the binding agreement between both parties and will protect you both in the case of an accident.
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Tips & Warnings
Make sure to review all sections of the lease agreement to ensure that all details are satisfactory.
References
Resources
- Photo Credit airplane#2 image by krynio from Fotolia.com airplane image by Melissa Schalke from Fotolia.com time image by Deborah Durbin from Fotolia.com young pilot image by choucashoot from Fotolia.com Empty airplane seats image by TekinT from Fotolia.com signing a contract image by William Berry from Fotolia.com
