Lease
Lease refers to the contractual agreement between the owner of an aircraft (lessor) and the user of the aircraft (lessee) for a specified period of time. The lessee pays the lessor for the use of the aircraft, and the lessor retains ownership of the aircraft. The terms of the lease agreement include the duration of the lease, the payment terms, the permitted use of the aircraft, and the maintenance responsibilities of the lessor and lessee. Leasing an aircraft can be a cost-effective alternative to purchasing an aircraft, especially for short-term or seasonal needs. It also allows the lessee to avoid the costs and responsibilities of aircraft ownership, such as maintenance, insurance, and storage.
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