Wet Lease

A wet lease is an aircraft leasing arrangement in which the lessor provides the aircraft along with the complete crew, maintenance services, and hull insurance — commonly abbreviated ACMI — giving the lessee an immediately operable flying resource without the responsibility of hiring pilots or managing airworthiness.

What Is a Wet Lease?

In a wet lease, the lessee (the airline receiving the aircraft) pays the lessor (the providing airline or specialist lessor) for the complete package: Aircraft, Crew, Maintenance, and Insurance. The lessee typically pays for fuel and airport charges from their own account, but the aircraft shows up ready to fly with qualified crew certified on the type and maintenance arrangements in place.

Wet leases are distinguished from dry leases, where an aircraft is provided without crew or maintenance, and the lessee operates it under their own operating certificate and airline operator's certificate (AOC). In a wet lease, the aircraft continues to fly under the lessor's AOC; the lessee is effectively buying capacity.

How It Works in Practice

An airline facing a temporary capacity shortfall — caused by an unexpected fleet grounding, seasonal demand spike, or aircraft delivery delays — can arrange a wet lease within days. The lessor's pilots and cabin crew operate the service. The lessee determines the schedule and route, and from the passenger's perspective the flight may be marketed under the lessee's flight number via a codeshare arrangement.

Regulatory authorities scrutinize wet leases carefully. EASA and the FAA require that the wet-leased aircraft be registered and maintained to the standards of the lessor's regulatory jurisdiction, and that the lessor's safety management system governs the operation. Passengers and regulators must be informed that the operating carrier differs from the marketing carrier.

Wet leases are common between established carriers and specialist ACMI operators such as Air Atlanta Icelandic, Titan Airways, or Hi Fly. Airlines also wet-lease to and from each other during peak seasons — a European carrier may wet-lease its narrowbody fleet to a Southern Hemisphere carrier during the Northern Hemisphere winter.

Why It Matters

Wet leases give airlines operational flexibility without the long-term commitments of fleet ownership or employment contracts. For smaller carriers launching new routes, a wet lease allows a market test before committing capital. For established carriers, it is a rapid response tool for capacity mismatches.

Key Facts and Figures

• Wet lease rates are typically quoted per block hour, ranging from $5,000 to $20,000+ depending on aircraft type.
• Most wet leases run for periods of 1 month to 2 years; short-term wet leases of days to weeks are called ad hoc leases.
• Regulatory disclosure rules require airlines to inform passengers of the operating carrier's identity.
• Major ACMI specialists include Hi Fly, Air Atlanta Icelandic, Titan Airways, and ASL Airlines.
• Wet leases may not exceed a certain duration without triggering crew transfer or AOC transfer requirements under some jurisdictions.

Related Concepts

ACMI Lease, Dry Lease, Franchise Agreement, Codeshare Agreement, Charter Operation