Wet Lease

Definition: A wet lease of an aircraft is an arrangement where the lessor of the aircraft provides the crew, maintenance with the leased aircraft. There can be variations of the lease terms, but normally the lessor retains some responsibility for supplying and operating the aircraft. The payment for a wet lease partly a fixed amount per period of the lease and an hourly rate for hours flown. Damp leases can be used to describe a lease of the aircraft with less than a full cabin crew, but is not as basic as a dry lease. Charter leases are where the owner of the aircraft retains complete responsibility for operating and providing the aircraft as is paid for each flight.