VOLUME 3 GENERAL TECHNICAL ADMINISTRATION
CHAPTER 13 LEASE AND INTERCHANGE AGREEMENTS
Section 3 Dry Lease Agreements
From any operational standpoint, dry lease of an aircraft by a
United States air carrier or operator does
not normally present a significant problem. Operational control of any dry leased
aircraft rests with the operator lessee. In most dry lease agreements, the
lessor is a bank, a leasing company, or a holding
company which has neither the operational expertise and infrastructure nor the
desire to assume responsibility and liability for controlling daily operations
of the leased aircraft. The air carrier or operator leasing the aircraft applies
for an amendment of its operations specifications to list the leased aircraft.
If an aircraft is dry leased from another operator, the lease agreement must
be explicit concerning the maintenance program and Minimum Equipment List to
be followed during the term of the dry lease.
Paragraphs 3-442 through 3-455.