What does the term "lease agreement" refer to in airport operations?

In airport operations, a lease agreement specifically refers to a legally binding contract that details the terms under which one party (the tenant) is allowed to use property owned by the airport (the lessor). This is usually for commercial activities such as operating a flight school, engaging in maintenance services, or running a retail shop within the airport premises. The lease outlines critical elements such as the duration of the lease, rental fees, maintenance responsibilities, and the type of permitted activities.

This formal structure is essential as it protects both the airport's interests and the tenant's rights, ensuring clarity and legal recourse if either party fails to meet their obligations. The other options do not fully capture the formal, legal, and detailed nature of lease agreements in airport settings. For instance, informal understandings or temporary agreements lack the legal enforceability that is vital in airport operations, while agreements between airports for resource sharing typically refer to different types of collaborative arrangements that do not involve property leasing.