Regulation
Usually, a lease is a transfer of possession of an aircraft without transfer of title. The owner of the aircraft, or lessor, retains legal title to the aircraft, but transfers possession of the aircraft to you, the lessee. But leasing an aircraft is NOT like leasing a truck…
Aircraft leases are regulated by the FAA in the Federal Aviation Regulations (FARs). The FAA classifies aircraft leases as either “dry leases” or “wet leases”.
Under a dry lease, the aircraft owner provides only the aircraft and no crew.
If at least one crew member is provided in the lease arrangement, this becomes a wet lease as defined in the FARs. A wet lease is an exception to the simple definition of a lease because it does not involve transferring possession of the aircraft. The lessor maintains operational control of the aircraft under a wet lease.
Without a specific exemption, such as a time sharing agreement, or other options found under FAR 91.501, a wet lease requires an FAA commercial operating certificate.
Why use us for your Aircraft Lease?
With over thirty years experience in aircraft financing, we have been able to develop programs that can finance a wide range of aircraft, including:
- Experimental,
- Twins,
- Executive Turbines,
- Jets, and
- Helicopters
No longer do you have to search for a lender that only finances certain types of aircraft, we can be your “one stop” financial source.
As one of the oldest aviation finance sources in the country, we have the ability to help make the purchase of your next aircraft as smooth and easy as possible.
Interested? Click here for more information or
Call for a FREE consultation…
336 552-0548 or
Mike@MLeonardCo.com
Quick Application …
Applying for an equipment lease or one of our other financing programs is:
- Fast and
- Easy, and
- Won’t cost you anything!
Just follow these five simple steps:
- Pick out the equipment you need and get a written proposal or quote from your vendor.
- Call or email me at
336 552-0548 or
Mike@MLeonardCo.com - I’ll send you a one page application form and call you to help put together any other information that will help get your application approved as quickly as possible.
- When I have your completed application and supporting information, I’ll submit the package for review and approval.
- Your approval will usually be available within 24-48 hours… then you simply sign the lease and schedule the installation of your equipment.
That’s all there is to it… click below for more detailed information about the application process…