09/13/07

 

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VOLUME 3  GENERAL TECHNICAL ADMINISTRATION

CHAPTER 13  LEASE AND INTERCHANGE AGREEMENTS

Section 3  Dry Lease Agreements

3-441. GENERAL. 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.

RESERVED. Paragraphs 3-442 through 3-455.