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Commercial Aircraft Sales and Leasing (CASL) is a common phrase used to describe organizations which typically market used commercial airliners and related equipment to governments and other various customers from manufacturers such as Airbus and Boeing as a primary function. CASL companies are often referred to as aircraft lessors. Small startup airlines which are usually not in a financial position to afford brand-new factory-direct aircraft, or established carriers who prefer to maintain flexibility by leasing rather than owning their aircraft, will typically work with a CASL company to locate and procure used aircraft for lease or finance. The aircraft may be provided to the airline on the basis of an operating lease or a finance lease. A number of commercial banks, hedge funds and financial institutions are active in the aircraft leasing business: the two largest and best-known CASL companies are General Electric Commercial Aviation Services (GECAS) and International Lease Finance Corporation (ILFC). Their independent revenues rank into the billions of dollars.
Air charter is the business of renting an entire aircraft (i.e., chartering) as opposed to individual aircraft seats (i.e., purchasing a ticket through a traditional airline). While the airlines specialize in selling transportation by the seat, air charter companies focus on individual private aircraft and itineraries, urgent or time-sensitive freight, cargo, air ambulance and any other form of ad hoc air transportation. Air charter is also known as air taxi (though this term has other senses), executive charter, jet charter and is part of general aviation. In the United States air charter and air taxi operations are governed by Part 135 of the Federal Aviation Regulations, unlike the larger scheduled airlines, which are governed by more stringent standards of Part 121 of the FARs, which are regulations designed for scheduled air carriers.
From Wikipedia, the free encyclopedia : Renting and leasing of aircraft |
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