Wet leasing is a prevalent practice in the airline sector, involving the temporary lease of aircraft, complete with operational services such as crew, maintenance, insurance, and occasionally fuel, from the aircraft owner (lessor) to the lessee airline for a predetermined period. During this time, the lessor supplies a fully operational aircraft with crew to the lessee airline.
By Avinash VJ
Wet leasing offers several key features that make it attractive for airlines:
- Operational Package: One of the defining features of wet leasing is that the lessor provides not only the aircraft but also the entire operational support package. This includes a fully trained and experienced crew comprising pilots and cabin crew, as well as maintenance, insurance, and often fuel. Essentially, the aircraft is ready for operation as soon as it is leased by the airline, with all necessary operational components taken care of by the lessor.
- Short-Term Arrangements: Wet leases are typically used for short-term or temporary needs by airlines. For example, airlines may opt for wet leasing during peak travel seasons when there is a surge in demand for flights. Similarly, airlines may utilize wet leasing to cover scheduled maintenance periods for their own aircraft, ensuring continuity of service without disruptions. Additionally, wet leasing provides a solution for airlines to address sudden increases in demand or to supplement their fleet during aircraft shortages.
- Flexibility: Wet leasing offers airlines significant flexibility in managing their fleet capacity. Since the lessor handles all operational aspects of the aircraft, including crew and maintenance, airlines can quickly adjust their capacity without facing administrative or operational burdens. This flexibility allows airlines to respond swiftly to market changes, optimize their fleet utilization, and meet fluctuating demand patterns effectively.
- Regulatory Compliance: Another advantage of wet leasing is that the lessor typically assumes responsibility for ensuring regulatory compliance. This includes ensuring that the leased aircraft and crew adhere to all relevant aviation regulations and safety standards. By entrusting regulatory compliance to the lessor, airlines can streamline their operations and mitigate regulatory complexities, thereby focusing on their core business activities.
Overall, wet leasing provides airlines with a convenient and efficient means to access additional aircraft capacity and operational support on a short-term basis. This arrangement enables airlines to enhance their operational flexibility, maintain service continuity, and effectively manage fluctuations in demand, ultimately contributing to improved service quality and customer satisfaction.
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