An aircraft lessor will want to protect their asset, and this is achieved with a lease agreement – of course, the lessee will also wish to protect themselves where they can.
We can think about an element of this protection now; think about the aircraft records prior to an aircraft being technically accepted.
If a lessee will be accepting an aircraft that is 12 years old and has 50,000 FH and 12,000 FC flown for another operator, then the new lessee would not want to be liable for issues in any prior paperwork before their lease term.
Lease protection can be used to address this regarding prior records which are “held or stored” for the lease term.
The lessee is then not responsible for any faults and or missing records associated exclusively with the prior records held or stored during the lessor’s lease term from prior lease terms.
It can be an important factor to remember during a redelivery review – remember CAMO requirements typically can be less stringent that lease return conditions.
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