Aircraft Operating Lease Agreement - England and Wales

Aircraft Operating Lease Agreement for the United Kingdom

Aircraft Operating Lease Agreement Template for England and Wales

An Aircraft Operating Lease Agreement is a comprehensive legal document governed by the laws of England and Wales that establishes the terms and conditions under which an aircraft owner (lessor) provides an aircraft to an operator (lessee) for a specified period. The agreement covers crucial aspects including delivery conditions, lease payments, maintenance obligations, insurance requirements, and return conditions, while ensuring compliance with UK aviation regulations and international conventions.

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What is a Aircraft Operating Lease Agreement?

The Aircraft Operating Lease Agreement is essential for structuring aircraft leasing arrangements under English and Welsh law. It's typically used when an airline or operator needs aircraft without the capital investment of purchasing. The agreement comprehensively addresses operational control, maintenance responsibilities, risk allocation, and regulatory compliance. It incorporates requirements from the Cape Town Convention, Civil Aviation Act, and relevant aviation regulations while providing clear frameworks for both routine operations and extraordinary circumstances.

What sections should be included in a Aircraft Operating Lease Agreement?

1. Parties: Identification of lessor and lessee with full legal details

2. Background: Context of the lease arrangement and basic aircraft details

3. Definitions: Key terms used throughout the agreement including relevant legislation and regulatory requirements

4. Delivery and Acceptance: Terms regarding aircraft delivery and acceptance conditions, including compliance with CAA regulations

5. Lease Term: Duration of lease, renewal options, and early termination provisions

6. Rent and Payments: Payment terms, amounts, schedules, and tax considerations

7. Operating Conditions: Requirements for aircraft operation, permitted use, and compliance with aviation regulations

8. Maintenance and Repair: Maintenance obligations, standards, and airworthiness requirements

9. Insurance: Required insurance coverage, terms, and compliance with regulatory requirements

10. Return Conditions: Aircraft return requirements and conditions at lease end

What sections are optional to include in a Aircraft Operating Lease Agreement?

1. Subleasing Rights: Terms and conditions for subleasing the aircraft, including regulatory compliance requirements

2. Purchase Option: Terms for potential purchase of aircraft during or at the end of the lease term

3. Wet Lease Provisions: Specific terms for crew, maintenance, and insurance inclusion in wet lease arrangements

4. Tax Indemnity: Specific tax-related protections and obligations for cross-border leases

What schedules should be included in a Aircraft Operating Lease Agreement?

1. Schedule 1 - Aircraft Description: Detailed technical specifications and registration details of the aircraft

2. Schedule 2 - Delivery Conditions: Specific conditions and requirements for aircraft delivery including technical and regulatory requirements

3. Schedule 3 - Return Conditions: Detailed requirements for aircraft return including technical specifications and documentation

4. Schedule 4 - Rent Schedule: Detailed payment schedule, calculations, and financial terms

5. Schedule 5 - Insurance Requirements: Specific insurance coverage requirements and minimum terms

6. Schedule 6 - Maintenance Program: Detailed maintenance requirements, schedule, and compliance standards

7. Schedule 7 - Form of Acceptance Certificate: Template for aircraft acceptance documentation and delivery confirmation

8. Schedule 8 - Permitted Sublessee List: List of pre-approved sublessees and related requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Aviation
Aircraft Leasing
Transportation
Insurance

Relevant Teams

Legal
Finance
Operations
Risk Management
Compliance
Asset Management
Technical Operations

Relevant Roles

Aviation Finance Manager
Fleet Planning Director
Chief Operating Officer
Legal Counsel
Aircraft Asset Manager
Aviation Risk Manager
Compliance Officer

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What is a Aircraft Operating Lease Agreement?

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What sections are optional to include in a Aircraft Operating Lease Agreement?

What schedules should be included in a Aircraft Operating Lease Agreement?

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