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How do the truth-in leasing rules define a lease?


 

Transcript:

For truth-in-leasing purposes a lease is considered to be any arrangement where an aircraft whether with or without crew is provided by one person to another for compensation or hire. This doesn’t include aircraft sale agreements. Compensation for this purpose is defined very broadly. It includes many things other than cash for service and could mean for example a barter or a trade, the reimbursement of expenses, or even capital contributions given to a company providing the plane.

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