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Aircraft Operating Lease Agreement

Aircraft Operating Lease Agreement Template for Australia

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Key Requirements PROMPT example:

Aircraft Operating Lease Agreement

"I need an Aircraft Operating Lease Agreement for a Boeing 737-800 aircraft to be leased to an Australian regional airline for 5 years starting March 2025, with maintenance reserves and specific provisions for operation in remote areas."

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Document background
The Aircraft Operating Lease Agreement is a specialized commercial contract used when one party (lessor) provides an aircraft to another party (lessee) for operational use over a specified period, while retaining ownership. This document is essential in the Australian aviation sector and must comply with local regulations including the Civil Aviation Act 1988, Civil Aviation Safety Regulations 1998, and the Cape Town Convention implementation in Australia. It typically includes detailed provisions for aircraft maintenance, operational requirements, financial terms, and regulatory compliance. The agreement is particularly relevant for airlines, charter operators, and businesses requiring aircraft without the capital commitment of ownership, while ensuring adherence to Australian aviation safety standards and commercial law requirements.
Suggested Sections

1. Parties: Identification of lessor and lessee with full legal names and addresses

2. Background: Context of the lease arrangement and brief description of the aircraft

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Lease Term and Delivery: Duration of lease, delivery conditions, and acceptance procedures

5. Rent and Payments: Rental amounts, payment schedules, and security deposits

6. Conditions Precedent: Prerequisites that must be satisfied before lease commencement

7. Representations and Warranties: Statements of fact and assurances from both parties

8. Covenants: Ongoing obligations of both parties during the lease term

9. Operation and Maintenance: Requirements for aircraft operation, maintenance, and record-keeping

10. Insurance: Required insurance coverage and terms

11. Loss and Damage: Procedures and obligations in case of damage or loss of aircraft

12. Return Conditions: Requirements for aircraft condition upon lease termination

13. Events of Default: Circumstances constituting default and consequences

14. Termination: Conditions and procedures for early termination

15. Indemnities: Mutual indemnification obligations

16. Assignment and Transfer: Rights and restrictions regarding assignment of lease rights

17. Governing Law and Jurisdiction: Applicable law and dispute resolution procedures

18. Notices: Communication procedures between parties

19. Miscellaneous: Standard boilerplate provisions

Optional Sections

1. Tax: Detailed tax provisions - include when cross-border leasing or specific tax arrangements apply

2. Cape Town Convention: Specific provisions related to the Cape Town Convention - include when aircraft meets eligibility criteria

3. Sanctions and Anti-Money Laundering: Include when dealing with international parties or high-risk jurisdictions

4. Records and Inspection Rights: Detailed inspection provisions - include for high-value aircraft or complex maintenance requirements

5. Sublease: Include when sublease rights are being granted to lessee

6. Step-In Rights: Include when financiers require specific rights to take over the lease

7. Maintenance Reserves: Include when lease requires ongoing maintenance reserve payments

8. Registration Requirements: Include when specific jurisdictional registration requirements apply

Suggested Schedules

1. Aircraft Description: Detailed technical specification of the aircraft

2. Rent and Payment Terms: Detailed financial terms including rent calculations and payment schedules

3. Delivery Conditions: Technical requirements for aircraft delivery

4. Return Conditions: Detailed technical requirements for aircraft return

5. Insurance Requirements: Specific insurance coverage requirements and terms

6. Maintenance Program: Detailed maintenance requirements and schedules

7. Form of Delivery Acceptance Certificate: Template for aircraft acceptance documentation

8. Form of Return Acceptance Certificate: Template for aircraft return documentation

9. Permitted Sublessee Requirements: Criteria for acceptable sublessees if subleasing is permitted

10. Technical Acceptance Protocol: Procedures for technical acceptance of aircraft

11. Engine Requirements: Specific requirements for engine maintenance and performance

12. Operating Jurisdictions: Approved territories for aircraft operation

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


















































Clauses









































Relevant Industries

Aviation

Transportation

Financial Services

Insurance

Tourism

Mining

Oil & Gas

Emergency Services

Agricultural Aviation

Defense Contracting

Cargo and Logistics

Relevant Teams

Legal

Finance

Operations

Engineering

Compliance

Risk Management

Treasury

Technical Operations

Procurement

Asset Management

Flight Operations

Maintenance

Insurance

Relevant Roles

Chief Financial Officer

Fleet Manager

Aviation Legal Counsel

Commercial Director

Risk Manager

Head of Operations

Technical Director

Procurement Manager

Compliance Officer

Aircraft Engineer

Finance Director

Operations Manager

Maintenance Manager

Insurance Manager

Treasury Manager

Aviation Finance Specialist

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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