Aircraft Time Sharing Agreement

• Category: Leases - Aircrafts
• State: Multi-State
• Control #: US-L-A-4584-01
• Format: Word; Rich Text

Description

An aircraft time sharing agreement is a contract between an aircraft owner and a third party that allows the party to use or occupy the aircraft for a period. Essentially, the agreement serves as a lease of the aircraft. When an aircraft is leased, the flight crew that works aboard usually comes as a part of the agreement. This ensures that the third party has the necessary support to safely and securely operate or occupy the aircraft. If an aircraft operator is procured under the terms of the agreement, it usually states that he or she is permitted to seek reimbursements from the other party to compensate for time spent in the aircraft.