Commentary

36 The operating lease

CIVIL AVIATION vol 7
| Commentary

36 The operating lease

| Commentary

36 The operating lease

In contrast, an operating lease is a form of dry lease under which the lessee acquires the use of an aircraft without the obligation to pay off its full costs of ownership, either directly or indirectly. With an operating lease, the economic risk in the aircraft remains with the lessor, who relies on the residual value of the aircraft at the end of the term to be able either to lease the aircraft again or to sell at a price that produces the lessor’s required investment return. Unlike a finance lease, where there is just one

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