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GIS » Topics » LEASE OF AIRCRAFT

This excerpt taken from the GIS 8-K filed Dec 14, 2007.

LEASE OF AIRCRAFT

 

Lessee shall pay Operator for expenses related to each flight in the amounts allowed under FAR 91.501(d) for each specific flight. These expenses shall be limited to:

 

 

1)

Fuel, oil, lubricants and other additives.

 

2)

Travel expenses of the crew, including food, lodging and ground transportation.

 

3)

Hangar and tie down costs away from the Aircrafts’ base of operation.

 

4)

Insurance obtained for the specific flight.

 

5)

Landing fees, airport taxes and similar assessments.

 

6)

Customs, foreign permit, and similar fees directly related to the flight.

 

7)

In-flight food and beverages.

 

8)

Passenger ground transportation.

 

9)

Flight planning and weather contract services.

 

10)

An additional charge equal to up to 100% of the expenses listed in (1) of this paragraph.

 

Operator shall pay all expenses related to the operation of the Aircraft and shall provide an invoice and bill to Lessee for the expenses enumerated in the list above by the 15th day of the month following the month in which any flight or flights for the account of the Lessee occur, or with regard to expenses that remain undeterminable as of that date, as soon as practicable thereafter. Lessee shall pay Operator for said expenses within 14 days of receipt of the invoice and bill therefore.


1


 

This excerpt taken from the GIS 8-K filed Dec 28, 2006.

LEASE OF AIRCRAFT

 

Lessee shall pay Operator for expenses related to each flight in the amounts allowed under FAR 91.501(d) for each specific flight. These expenses shall be limited to:

 

 

1)

Fuel, oil, lubricants and other additives.

 

2)

Travel expenses of the crew, including food, lodging and ground transportation.

 

3)

Hangar and tie down costs away from the Aircrafts’ base of operation.

 

4)

Insurance obtained for the specific flight.

 

5)

Landing fees, airport taxes and similar assessments.

 

6)

Customs, foreign permit, and similar fees directly related to the flight.

 

7)

In-flight food and beverages.

 

8)

Passenger ground transportation.

 

9)

Flight planning and weather contract services.

 

10)

An additional charge equal to up to 100% of the expenses listed in (1) of this paragraph.

1


Operator shall pay all expenses related to the operation of the Aircraft and shall provide an invoice and bill to Lessee for the expenses enumerated in the list above by the 15th day of the month following the month in which any flight or flights for the account of the Lessee occur, or with regard to expenses that remain undeterminable as of that date, as soon as practicable thereafter. Lessee shall pay Operator for said expenses within 14 days of receipt of the invoice and bill therefore.

 

EXCERPTS ON THIS PAGE:

8-K
Dec 14, 2007
8-K
Dec 28, 2006

RELATED TOPICS for GIS:

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