What is wet leasing?
What is wet leasing? A wet lease is a leasing arrangement whereby one airline (the lessor) provides an aircraft, complete crew, maintenance, and insurance (ACMI) to another airline or other type of business acting as a broker of air travel (the lessee), which pays by hours operated.
What is a sham dry lease?
Another common grey area is the “sham dry lease” or the “wet lease in disguise” operation. This occurs when one or more parties act in concert to provide an aircraft and at least one crewmember to a potential passenger.