Now also available as eBook, click
here to buy and download your copy
The author examines the aircraft operating lease from both a legal and
practical point of view and contextualizes it in light of public and private
international air law agreements, case law, statutes, regulations from a
variety of jurisdictions, and current literature in the field. The underlying
issues of a lease agreement covered here include the following (among many
others):
-
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;
-
damage to the aircraft and other loss to lessor;
-
liability for damage to third parties;
-
safety issues and lessor’s liability for acts of the airline;
-
the events that will entitle the lessor to terminate the contract and recover
its asset;
-
issues pertaining to enforcement of remedies; and
The format broadly follows that of a typical aircraft operating lease. The
author flags the principal legal issues to be considered in developing a
standard form aircraft operating lease and makes recommendations in that
regard. His approach balances the desired commercial outcome with the legal,
or more theoretical, mandate to apply the law to disputes that may arise. An
immensely useful supplement sets out a real example of a form of aircraft
operating lease for a used aircraft, as used by a leading commercial aircraft
leasing company. As a detailed examination of each part of the lease with
particular reference to the impact on each term of relevant case law,
statutes, regulations, and international treaties, this work greatly enhances
understanding of the legal and practical aspects of the aircraft operating
lease.
Features:
First comprehensive description of lease law as applied to aircraft
Detailed step-by-step analysis of an aircraft operating lease
Expert up-to-date presentation of applicable domestic and international law
affecting aircraft leasing
Benefits:
Clause-by-clause guidance through drafting and negotiating an effective
aircraft operating lease
Confidently incorporate applicable domestic and international law into an
aircraft lease
Fully understand and take into account events that can lead to lease
termination and recovery of possession of the aircraft
Preface. 1. Introduction. 2. Overview. 3. The Aircraft
Operating Lease. 4. Conclusion. Annexes. 1. Typical Operating
Lease Structure. 2. Typical Leasing Structure for Japanese Registered
Aircraft. 3. Typical New Aircraft Operating Lease Financing. 4.
Typical New Aircraft Operating Lease Financing for Japanese Registered
Aircraft. 5. Typical Jurisdictional Questionnaire Provisions. 6.
Typical Lessee Legal Opinion Provisions. 7. Typical Representations and
Warranties of Lessee. 8. Typical Conditions Precedent to Be Satisfied
by Lessee. 9. Typical Operational Covenants of Lessee. 10.
Typical Events of Default. 11. OECD Understanding on Export Credits for
Civil Aircraft, Annex I (Qualifying Declarations). 12. Model Article 83
bis Agreement. Bibliography. Table of Cases. Table of International
Conventions and Other Agreements. Table of Legislation. Index. Biography.
Supplement: Sample Aircraft Lease Agreement.