Aircraft Lease Contract
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Description
An aircraft lease is a legal agreement between two parties, typically a lessor and lessee. The lessor agrees to provide the airplane to the lessee for a set period of time in exchange for regular payments called rentals or lease payments.
Aircraft lease payments can be made on either an operating basis where the lessee pays only for flight hours used, or on a full-time basis where all hours are paid upfront. An aircraft lease can also be structured as single payment with no recurring payments required.It's important to note that leasing agreements are not loans because there is no interest charged over time and title does not transfer.
Aircraft leasing is a great option for those who want to own an airplane without the high cost of ownership. A typical aircraft lease will last between 5 and 10 years, and then you'll return it to the lessor or purchase it outright.
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