In the absence of controlling legislation at the local, state, or federal level, the law of aviation is no more than a localized application of general common-law principles. Accordingly, various contracts relating to aviation are governed by the rules and requirements pertinent to such agreements generally.
However, the federal government plays an important role in many aspects of the aviation industry. The Federal Aviation Act of 1958 provides in detail for the regulation and control of aviation in the United States. Under this Act, any conveyance that affects the title to, or any interest in, any civil aircraft of the United States must be acknowledged and recorded with the Administrator of the Federal Aviation Administration in the manner prescribed by statute. After such an instrument is recorded, it is valid as to all persons without recording and regardless of notice.
As with any lease of personal property, an agreement to lease an aircraft must comply with all of the requisites, duties, liabilities, and obligations of the respective parties.Of particular importance in an aircraft lease are provisions concerning any limitations on the use of the aircraft and liability for loss and damage to or caused by the aircraft.
Delaware Aircraft Lease for Successive Terms is a contractual agreement that allows individuals or businesses to lease an aircraft on a long-term basis, typically for multiple terms. The lease is specifically designed to operate under the legal framework provided by Delaware state law, ensuring security and compliance for both lessors and lessees. This type of lease is commonly utilized by aviation companies, airlines, private jet owners, and other entities looking to utilize an aircraft for an extended period. It offers several benefits, such as predictable costs, flexibility, and access to modern aircraft without investing substantial capital upfront. Delaware Aircraft Lease for Successive Terms can be further classified into two main types: 1. Wet Lease: In this arrangement, the lessor (owner of the aircraft) provides not only the aircraft but also the crew, maintenance, insurance, and other operational aspects. Lessees can utilize the fully equipped aircraft without having to worry about any additional administrative duties. This option is particularly favorable for newly established airlines or companies operating in remote locations with limited resources. 2. Dry Lease: Unlike a wet lease, a dry lease involves leasing only the aircraft without any additional services. The lessee is responsible for providing the crew, maintenance, insurance, and all operational aspects required for the aircraft's safe operation. This type of lease is commonly sought after by established airlines or businesses that have the infrastructure and expertise to handle the aircraft's management. Delaware's jurisdiction for Aircraft Leasing provides a favorable legal environment, offering advantages such as tax incentives, minimal bureaucracy, and robust legal protection for lessors and lessees. The state's well-established corporate laws and court system ensure smooth transactions and dispute resolution processes. Overall, Delaware Aircraft Lease for Successive Terms offers a flexible and cost-effective solution for entities looking to access and operate an aircraft in the long term. With the options of wet and dry leases, lessees can choose the arrangement that best suits their specific needs and operational requirements.
