Dry Lease - Maintenace
Hello,
I'm trying to understand the full definition of Dry Lease. My current understanding is that the leesee supplies the aircraft for an agreed amount and the leesor covers pretty much everything else - Maintenance, Insurance, operating costs and crew, hangarage etc.
It's the maintenance part that I don't currently have a full understanding of. I get that the leesor would pay for all scheduled maintenance, but who is responsible for unscheduled maintenance or when a component fails? If it is within a guarentee, I suppose the component manufacturer would be responsible, but if it isn't?
Example: During Scheduled maintenance, it is discovered that a turbine blade has cracked or is damaged. The engine is only say, 1000hrs old and there is no evidence of neglect or malice.
The above is completely hypothetical and is used only to help me understand the definitions of Dry Lease.
Any help in educating me is much appreciated!