The Wet Lease Agreement

A wet lease is an agreement under which the lessor agrees to make one or more cabin crew members available to the taker. In addition, as part of this agreement, the leaser is also responsible for the greater maintenance of the aircraft and the assurance that may be required to operate the equipment. As part of the wet rent, the owner makes the equipment available to the tenant, but without the cabin crew. The rest of the agreement remains broadly the same. Under this agreement, the tenant must provide cabin crew, who must also be well trained. However, in this case, the owner will provide a surveillance cabin wallet. Damp lease in some countries is also known as Wet Lease, Without Fuel. is defined as a wet rental aircraft that includes a cockpit crew, but no cabin crew. Wet leasing means that the organization or person to which the aircraft belongs makes the aircraft and one or more crew members available to the taker. More importantly, the owner also promises to perform proper maintenance and obtain the necessary insurance for the operation. In 2007, Beijing allowed Chinese banks to lease leasing units and nine Chinese leasers were among the top 50 in 2017, led by ICBC-Leasing in the top 10, with a 15% increase in the value of their managed fleet since 2016. [5] In some cases, Chinese owners forgot that they had to receive a secondary lease and missed the time of re-delivery when they failed planes for a few months.

[6] Let me give you a simple example: imagine that you will have to go somewhere, but you are not using your own car. Two options apply: either you can rent a car or order a taxi. The presence of recruited staff makes the difference. With a rental car, you are responsible for driving or searching for a driver while a taxi arrives with a driver. The same principle applies to airlines. Either you can simply rent a plane called a dry hire, or rent a plane with crew members, including maintenance and insurance. This is called a water lease. Article 13, paragraph 2 of Regulation (EC) No. 1008/2008 of the Council is not subject to the approval of the lease. However, to lease a “G” registered aircraft to an operator (community or third country), the following requirements apply: finally, a water-leased aircraft can be used to travel to countries where the taker is not operational. For example, EgyptAir, the Egyptian airline, cannot travel to Israel.

As such, a new “airline”, Air Sinai, flies EgyptAir to travel between the two countries. In its simplest form, the term leasing means the transfer of a property (in our case, it would be an airplane) from the owner to the party that buys it. However, ownership of the property remains with the owner (the small one) until the end of the lease.