A wet lease is a type of aircraft leasing agreement where one party provides a complete aircraft along with at least one crew member to operate it. This arrangement allows the lessee to utilize the aircraft without needing to supply their own crew. It's important to note that a wet lease is distinct from a code-sharing arrangement, which involves different operational agreements between airlines.
Wet leases are commonly used in the aviation industry, particularly among airlines and charter companies. They can be relevant in various legal contexts, including aviation regulations, commercial contracts, and operational compliance. Users may find it beneficial to utilize legal templates from US Legal Forms to manage agreements related to wet leases effectively.
Here are a couple of examples of abatement:
For instance, an airline may enter a wet lease agreement with another airline to temporarily acquire additional aircraft and crew during peak travel seasons. This allows the airline to meet increased demand without the long-term commitment of purchasing new aircraft.
(hypothetical example) A charter company might lease a plane with a pilot from another operator to fulfill a special event request, ensuring that they can provide the necessary service without having to hire additional staff.
Wet leases are governed by federal aviation regulations, specifically under Title 14 of the Code of Federal Regulations (CFR). Key regulations include:
| Term | Definition | Key Differences |
|---|---|---|
| Wet Lease | A lease providing an entire aircraft and crew. | Includes crew; operational control remains with the lessor. |
| Dry Lease | A lease providing only the aircraft without crew. | Lessee must provide their own crew; operational control shifts to the lessee. |
| Code-Sharing Agreement | A partnership between airlines to share flight services. | Does not involve leasing of aircraft; focuses on marketing and ticketing. |
If you are considering entering a wet lease agreement, it is advisable to:
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| Attribute | Details |
|---|---|
| Typical Duration | Varies based on agreement; can be short or long-term. |
| Jurisdiction | Federal regulations apply, with potential state-specific rules. |
| Common Fees | Varies widely based on aircraft type and lease terms. |
A wet lease includes the provision of crew members, while a dry lease does not.