Aircraft Dry Lease Agreement
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Description
An aircraft dry lease agreement is a contract between a lessor and lessee concerning renting an aircraft. The aircraft is leased without crew, insurance, fuel, or maintenance costs, which means that the lessee will not have to worry about payroll and other related operating expenses.
The lessee has no responsibility for any damage or wear-and-tear on the aircraft during the leasing term, so they don't need to take out an additional liability policy to protect themselves from such risks. The most desired benefits to an aircraft dry lease agreement include no crew expense, no insurance cost, no fuel cost, and no maintenance cost.
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