Dry Lease vs Wet Lease

Both structures give an airline access to an aircraft it does not own, but the operational responsibility is very different. A dry lease transfers the airframe into the customer's operation; a wet lease buys capacity from another operating airline.

A dry lease is primarily an aircraft rental

The lessee places the aircraft on its own operating certificate where permitted, supplies crews and handles maintenance, insurance and day-to-day operations.

A wet lease includes the operating platform

The supplier provides aircraft, crew, maintenance and insurance, so the customer can add flights without integrating the aircraft fully into its own fleet.

Contract lengths tend to differ

Dry leases are commonly used for multi-year fleet financing, while wet leases can be short-term or seasonal, though long arrangements also exist.

Regulatory treatment is different

Authorities examine who has operational control, whose certificate applies and whether foreign wet leasing is permitted under local rules.

Economics depend on the problem being solved

A dry lease can be cheaper for long-term use if the airline already has crews and infrastructure. A wet lease is valuable when capacity is needed quickly.

The terminology matters in disruptions

Passengers may see another operator named on the booking because a wet-lease provider is actually flying the service, even though the marketing airline sold the ticket.

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