The wet lease agreement is a common practice in the aviation industry where an airline leases an aircraft and crew from another airline. This type of lease is called a “wet” lease because it includes not only the aircraft but also all the necessary crew, maintenance, and insurance.
Wet leasing is typically used by airlines to expand their capacity when demand for their flights exceeds their available resources. For example, an airline may lease an aircraft and crew to operate a new route or to meet increased demand during peak travel periods.
One important aspect of a wet lease agreement is that the lessor, or the airline that owns the aircraft, retains operational control of the aircraft, crew, and maintenance during the lease. This means that the lessor is responsible for ensuring that the aircraft meets all safety and regulatory requirements, and that the crew is properly trained and qualified to operate the aircraft.
The lessee, or the airline leasing the aircraft, is responsible for paying for all operating costs during the lease, including fuel, maintenance, and crew expenses. In some cases, the lessee may also be responsible for paying a fee to the lessor for the use of the aircraft and crew.
Although wet leasing is a common practice in the aviation industry, it is not without risks. Lessees must ensure that the lessor has a good safety record and that the aircraft and crew meet all necessary safety and regulatory requirements. Additionally, lessees may be exposed to liability in the event of accidents or incidents involving the leased aircraft or crew.
Overall, the wet lease agreement is an important tool for airlines looking to expand their capacity or meet increased demand. However, it is important for airlines to carefully consider the risks and benefits of wet leasing before entering into an agreement, and to ensure that all necessary safety and regulatory requirements are met.