What is dry lease of aircraft?

Conversely, a “dry lease” is therefore the lease of an aircraft without any crewmembers. Types of dry leases include rental agreements and, in aircraft trust arrangements, operating agreements.

Can I rent my plane under Part 91?

A business may set up a lease between related parties for several reasons, including FAA regulations, state sales-tax planning, risk management and sharing the use of an aircraft. For leases of large (over 12,500 pounds) or turbine- powered aircraft, Part 91 requires a written lease agreement.

What is dry and wet lease?

In a “wet” lease situation, because the lessor is providing both aircraft and crew, the lessor maintains operational control of all flights. In a “dry” lease situation, the lessee provides its own crew and the lessee exercises operational control of its flights.

How many hours can you fly under Part 91?

§ 91.1059 Flight time limitations and rest requirements: One or two pilot crews. (1) 500 hours in any calendar quarter; (2) 800 hours in any two consecutive calendar quarters; (3) 1,400 hours in any calendar year.

Is dry lease common carriage?

With a dry lease, the owner of an aircraft provides the aircraft to a lessee without any flight crew, which is a common and legal arrangement, as long as the lessee is responsible for providing his or her own flight crew and accepts “operational control.” Operational control is defined in FAR 1.1 as “the exercise of …

Can I rent out my own plane?

You will need a commercial insurance policy which allows you to rent the aircraft. This policy covers the aircraft, so you will also need (or at least want) general liability insurance and all the other trimmings that come with operating a business.

Can I lease out my airplane?

A. Yes and Yes. There are several IRS requirements that your aircraft rental business must meet if you want to use tax incentives. However, regardless of the tax benefits you can still benefit from substantial cost reductions per hour when you rent your plane out.

What does dry rent mean?

Dry-rent definition A rent reserved by deed , without a clause of distress .

Can a pilot fly more than 8 hours?

An airline transport pilot can fly up to 8 hours per 24 hour period and up to 10 hours if a second pilot is aboard. Pilots are required to rest a minimum of 16 hours postflight. Some variances to these regulations exist depending on the company’s operations specifications.