wet lease

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wet lease

The leasing or hiring of a commercial aircraft from another carrier complete with a flight crew, but not necessarily with a cabin crew. All major servicing is performed by the owner-carrier. The aircraft, however, carries the hirer's logo and insignia for the period of the lease. The antonym for the term is dry lease.
References in periodicals archive ?
When it comed to the Libya-Malta route, Libyan Airlines said it is also in the process of wet-leasing another of Nouvelair's Airbus fleet that would be used on the Malta route, increasing frequency to and from Malta from twice weekly to four times a week and providing a cargo service between the two countries.
Tenders are invited for Appointment as Wet-Leasing Agent willing to offer total capacity of their plant as per production requirements of SAIL under
Nevertheless, he is talking with airlines about wet-leasing a 767 in an all-business layout with up to 90 seats, and "we are also speaking with Boeing to evaluate the 787 for our fleet in several years to come." Jul 10, 2006
The costs associated with wet-leasing replacement aircraft and a weak Norwegian Krone (NOK) significantly affected the figures.
During the first quarter, the airline has suffered 813 million NOK (Au80m) losses, and it has stated that this loss is due to extra expenditure of Au7.7 million related to its long-haul operations, comprising wet-leasing aircraft and additional fuel, plus expenses for proving lodging and refreshments to the stranded passengers hit by the technical and operational snags connected with the long-haul operation.
The enquiries are being made by the fast growing airline about wet-leasing four of the superjumbos.
Oman Air, the national airline of Oman, has disclosed that the airline has accomplished a forty-day agreement for wet-leasing ATR72 turboprop aircraft to replace one of its ATR42-500s, maintenance work on which is going on now.
The company today reported a third quarter pre-tax profit of 604 MNOK, a result significantly affected by the additional costs associated with wet-leasing replacement aircraft on long-haul routes.