Scope of subpart.

This subpart— (a) Implements section 555 of the FAA (Federal Aviation Administration) Reauthorization Act of 2018 (Pub. L. 115-254); (b) Provides guidance when acquiring equipment and more than one method of acquisition is available for use; and (c) Applies to both the initial acquisition of equipment and the renewal or extension of existing equipment leases or rental agreements. [86 FR 31072, June 10, 2021]