WET LEASE

A 'wet lease' is a leasing arrangement whereby one airline (lessor) provides an aircraft, complete crew, maintenance, and insurance, to another airline (lessee), who pays by hours operated. The lessee provides fuel, covers airport fees, and any other duties, taxes, etc. The flight uses the flight number of the lessee. A wet lease generally lasts one month to two years, anything less would be considered an ad-hoc charter.Aircraft Leasing: ACMI, Dry / Wet Lease Definition
Ground handling is usually done by the lessor although this can vary from country to country. In some cases the lessee provides these services (or one of its partners).
They can also be considered as a form of charter whereby the lessor provides minimum operating services, including aircraft, crew, maintenance, and insurance (ACMI), and the lessee provides the balance of services along with flight numbers. In all other forms of charter, the lessor provides the flight numbers. Variations of a wet lease include a code share arrangement and a block seat agreement.
"Dry lease" refers to leasing only the aircraft.
"Damp lease" is a vernacular term once used in the UK meaning a wet lease with no fuel. A wet lease is typically utilized during peak traffic seasons or annual heavy maintenance checks, or to initiate new routes. When an air carrier provides less than an entire aircraft crew, the wet lease occasionally is also sometimes referred to as a damp lease.
A number of specialist independent aircraft re-marketing agencies produce reports on behalf of Lessor's marketing their aircraft availability for wet lease contract.^[1]

Contents

See also

References

Notes

See also

★ Aircraft finance

References

#United States FAA definition of wet lease

Notes

1. http://www.indigo-aviation.com/daily/index.php