Is a dry lease Part 91?
Part 91. With a dry lease, an aircraft owner/lessor leases an aircraft to a lessee/operator without a crew. Neither the lessor nor the lessee is required to hold a charter certificate. In a dry lease situation, the lessee provides its own crew and exercises operational control of its flights.
What is a dry lease agreement?
Dry lease: In a dry lease, the owner provides the aircraft to the lessee without a crew. Neither party is required to have an air carrier certificate so long as the aircraft does not carry people or property for compensation or hire.
Can you lease an aircraft?
Leasing an aircraft can be an alternative to outright purchase for a variety of reasons ranging from practicality to cash flow. There are a wide variety of leasing options available, each with specific advantages and disadvantages. In general terms, a lease is a transfer of an aircraft without transfer of title.
Is dry lease common carriage?
With a dry lease, the owner of an aircraft provides the aircraft to a lessee without any flight crew, which is a common and legal arrangement, as long as the lessee is responsible for providing his or her own flight crew and accepts “operational control.” Operational control is defined in FAR 1.1 as “the exercise of …
What is dry lease and wet lease in UN?
Major equipment If the contingent is responsible for maintenance (i.e. a wet lease), a maintenance factor is included in the reimbursement rate. Otherwise, the UN is responsible for maintenance (i.e. a dry lease).
What is Aircraft Lease agreement?
An aircraft lease agreement is a contract between the aircraft owner and the lessee. The leasing company, typically airlines, provides payments for the use of airplanes.
Is private carriage under Part 91?
Private flying can be done under Part 91, the General Operating and Flight Rules. The FAA distinguishes commercial operations as involving either private Carriage for Hire (“Non Common Carriage”), or “Common Carriage.” These terms are partially defined in FAR 119.3.
Why is it called wet lease?
Dry Leases. In the charter industry, the FAA regulates two main types of aircraft leases: a “dry lease” or a “wet lease.” A wet lease means that the organization or person who owns the aircraft will provide that aircraft as well as one or more crew members to the lessee.
Why do airlines lease aircraft?
Airlines lease aircraft from other airlines or leasing companies for two main reasons: to operate aircraft without the financial burden of buying them, and to provide temporary increase in capacity.
What is a Part 91 aircraft?
Aircraft & Part 91 Unlike Part 135 and Part 121, Part 91 deals with the air charter operator and the operator’s rules and regulations during a flight specifically. Airlines and charter companies will refer to Part 91 before hiring a pilot to determine their certifications and qualifications.
Who does part 91 apply to?
Part 91 governs situations where the pilot is directly responsible for the entire private aircraft — like an automobile driver transporting around other private citizens.
How many contracts can a commercial pilot have?
The maximum number of contracts you can have, without making the FAA think you were willing to carry anybody anywhere at anytime, lies anywhere between eighteen and twentyfour, according to Advisory Circular 120-12A.
What is a private aircraft dry lease?
A private aircraft “dry lease” arrangement is subject to fewer operating restrictions and governed by 14 C.F.R. Part 91. With a dry lease, an aircraft owner/lessor leases an aircraft to a lessee/operator without a crew. Neither the lessor nor the lessee is required to hold a charter certificate.
Are part 91 and Part 135 dry leases the same thing?
“A common arrangement is to lease an aircraft to one company for Part 91 operations and to a Part 135 operator for charter,” said Jeff Wieand, senior vice president and general counsel of Boston Jet Search. “Those would both be non- exclusive dry leases.”
How are hourly aircraft leases set?
Hourly rates are often set based on aircraft costs. “A common arrangement is to lease an aircraft to one company for Part 91 operations and to a Part 135 operator for charter,” said Jeff Wieand, senior vice president and general counsel of Boston Jet Search. “Those would both be non- exclusive dry leases.”
What does Part 91 of the Federal Aviation Law cover?
“Part 91 permits aircraft operations that do not involve compensation or hire, with only a few narrow exceptions. Any type of reimbursement or capital contributions to the entity that operates the aircraft are generally considered compensation.”