What should an aircraft owner require before leasing to any party?

Requiring a detailed usage plan and proof of insurance from a party before leasing an aircraft is essential for several reasons. First, a detailed usage plan outlines how the aircraft will be utilized, indicating the lessee's understanding of the operational requirements and responsibilities associated with the aircraft. This helps the owner assess whether the intended use aligns with the capabilities and maintenance needs of the aircraft.

Proof of insurance is equally vital, as it shows that the lessee is financially responsible and capable of covering any potential liabilities or damages that might arise during the lease period. This protects the aircraft owner from bearing the financial burden in the event of an accident or damage. In many jurisdictions and under various aviation regulations, having adequate insurance coverage is a legal requirement, thus ensuring compliance and mitigating risk.

Considering these points, the combination of a detailed usage plan and proof of insurance provides the aircraft owner with the necessary safeguards and information to make an informed decision about leasing to a potential user.