Hunter Creek Aviation, Inc.
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There are a wide variety of aircraft leasing options available, each with specific advantages and disadvantages. In general terms, a lease is a transfer 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 the lessee. It is important to note that due to the broad range of options available, not all aircraft leases will meet the above definition.Aircraft leases are regulated by the FAA in the Federal Aviation Regulations (FARs). The FAA classifies aircraft leases as either "dry leases" of "wet leases". A dry lease is a leasing arrangement whereby the lessor, provides an aircraft without insurance, crew, ground staff, supporting equipment, maintenance, etc. A typical dry lease starts from two years onwards and bears certain conditions with respect to depreciation, maintenance, insurances, etc., depending also on the geographical location, political circumstances, etc.A wet lease is a leasing arrangement whereby the lessor provides an aircraft, complete crew, maintenance, and insurance to the lessee, which pays by hours operated. The lessee provides fuel and covers airport fees, and any other duties, taxes, etc. The flight uses the flight number of the lessee. A wet lease generally lasts one month to two years. A wet lease requires an FAA commercial operating certificate.
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