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The author examines the aircraft operating lease from both a legal andpractical point of view and contextualizes it in light of public and privateinternational air law agreements, case law, statutes, regulations from avariety of jurisdictions, and current literature in the field. The underlyingissues of a lease agreement covered here include the following (among manyothers):;the obligations and rights of each party;failure to meet delivery condition before delivery;standby letters of...
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The author examines the aircraft operating lease from both a legal andpractical point of view and contextualizes it in light of public and privateinternational air law agreements, case law, statutes, regulations from avariety of jurisdictions, and current literature in the field. The underlyingissues of a lease agreement covered here include the following (among manyothers):;the obligations and rights of each party;failure to meet delivery condition before delivery;standby letters of credit and guarantees;regulatory constraints concerning aircraft registration or foreign remittances;manufacturer's warranties;possession and replacement of parts and engines;sub-leasing;damage to the aircraft and other loss to less∨liability for damage to third parties;safety issues and lessor's liability for acts of the airli≠the events that will entitle the lessor to terminate the contract and recoverits asset;issues pertaining to enforcement of remedies; andgoverning law.The format broadly follows that of a typical aircraft operating lease. Theauthor flags the principal legal issues to be considered in developing astandard form aircraft operating lease and makes recommendations in thatregard. His approach balances the desired commercial outcome with the legal,or more theoretical, mandate to apply the law to disputes that may arise. Animmensely useful supplement sets out a real example of a form of aircraftoperating lease for a used aircraft, as used by a leading commercial aircraftleasing company.As a detailed examination of each part of the lease with particular referenceto the impact on each term of relevant case law, statutes, regulations, andinternational treaties, this work greatly enhances understanding of the legaland practical aspects of the aircraft operating lease.