Wet lease

From Wikipedia, the free encyclopedia

A wet lease is any leasing arrangement whereby a company agrees to provide an aircraft and at least one pilot to another company. It does not include a code sharing arrangement.

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 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, and an example can be found here [1]

[edit] Source

• US FAA definition of wet lease FAA.gov