An aircraft lease agreement is a document used when an individual or company leases an aircraft. The document is created to set out the terms and conditions under which the individual or company leases the aircraft (''Lessee'') from the aircraft owner (''Lessor'').
The contract traditionally includes all relevant information regarding the transaction, including the aircraft model, its approximate value, effective date of the lease, rates, operational periods, taxes, and other pertinent information. The document typically also includes who is responsible for the maintenance of the aircraft, when payments shall be made for the lease, fees for late payments, and if requested, security deposit information. The agreement will also include indemnity clauses, to protect the aircraft owner.
In an aircraft lease agreement, the lessor will also include rules and requirements the lessee is legally bound to uphold regarding the lease; these clauses can include permitted operators and purposes of the aircraft. Such an agreement may be used if a corporation would like to lease a private plane to transport shareholders to an annual meeting.