Aircraft leases are part of the aircraft business. Airlines lease aircraft from other airlines or leasing companies to operate aircraft without the financial burden of buying them. There are two leases in the industry: wet leasing and dry leasing.
Wet leases are normally used for short-term leasing and include aircraft, crew, maintenance and insurance. Dry leases are for longer deals and consist of only the aircraft itself.
In a wet lease, the lessor agrees to provide an aircraft, complete crew, maintenance, and insurance to another airline or another type of business. The lessee pays the lessor by hours operated. Fuel and airport fees as well as any other duties and taxes are covered by the lessee. Flights use the flight number of the lessee. Since they are considered short term, a wet lease generally lasts one month to two years.
Wet leases are popular during peak traffic seasons or annual heavy maintenance checks. They can also be utilized to initiate new routes. Wet-leased aircraft are also useful for companies that want to fly into countries where the lessee is banned from operating. Wet leases are sometimes political. They are a way to get around flight restrictions between countries that are under such restrictions.
There are variations of a wet lease, including code share arrangements and block seat agreements. Damp or moist leases are another kind of leasing agreement. The lessor agrees to provide the aircraft, flight crew and maintenance but the lessee provides the cabin crew. This term is especially used in the United Kingdom.
Some clients require a short term lease ranging from one to six months. Others are looking for a long term lease.
No matter what the requirements may be, you can depend on ABI to meet your needs. With more than 30 years of experience as a leader in the private aviation industry, ABI has the connections in the marketplace to find and secure the lease you seek and negotiate the best rates possible.