Accounting Dictionary

Lessee

A lessee is one to whom a lease is granted.

If John leases a building to Mary, Mary is the lessee. In some cases, lessees can get some great advantages over buying like 100% financing at fixed rates, protection against obsolescence, flexibility, and with a capital lease, the ability to depreciate assets that you don’t legally own. Let’s say an airline that normally sells 100,000 tickets leases its airplanes. If a crisis occurs and they can only sell 40,000 seats, the company can give the leased planes back and not be saddled with high monthly payments for planes they aren’t using.

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