There are many situations in which an operator wants to make their aircraft available to a third party. As a rule, this can be done by a non-exclusive Dry Lease. Although there is no limit to the number of parts to which an aircraft can be leased, reflections are underway. If the aircraft that an operator wishes to make available is leased by a financial institution or an independent party, the operator must obtain the authorization of the “main lessee”. “When we see a number of leasing partners who don`t know each other and don`t know the owner, who don`t all exclusively lease the same aircraft and fly with the same pilots, it raises a few red flags,” said Joanne Barbera, founding partner of aviation firm Barbera & Watkins, LLC. “For safety reasons, it is important for the FAA to ensure that any lessee has operational control of the aircraft when flying it and understands the risks, liabilities and liabilities associated with it.” Leasing transfers ownership of the aircraft without transfer of ownership. A Dry Lease provides an aircraft, but the lessor does not provide a crew. (A wet lease is called a wet lease and requires an FAA COMMERCIAL certificate unless it has been specifically approved under FAR 91.501 or FAR 91.321.) The FAA`s leasing requirements are due to these safety issues. For large aircraft, the lessee must send a copy to the FAA Aircraft Registry within 24 hours of entering into a lease agreement, and before the lessee uses the aircraft for the first time, they must inform their district office of the flight standards.