eli5. What’s the difference between a lease and a charter?

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eli5. What’s the difference between a lease and a charter?

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They’re the same, but chartering is commonly associated with boats/aircraft because they’re so large and expensive, that rules terms for the use of such item would be “charted” (or a contract would be made) prior to their use. But the term chartering and leasing could be used interchangeably when referring to boat/aircraft.

chartering generally comes with the idea that the company youre chartering something from is going to be the thing operating it. a football team may charter a plane, but it is going to be a company pilot thats actually going to fly it, leasing doesnt carry that same kind of accepted definition