Metwrench From United States of America, joined Aug 2001, 750 posts, RR: 2 Reply 3, posted (12 years 1 month 2 days 10 hours ago) and read 832 times:
Can I expand a little?
Dry Lease - Long term, Minimum 2 years. Works well for Operators entering a new market not willing to make a financial commitment on new equipment. Also works for small Operators without enough capital to purchase equipment outright.
Wet Lease - Short term, a week to a few months. Somebody is in a bind and needs an airplane fast. The Leaser is basically a charter company.
Damp Lease - Also short term. Aircraft remains on Leaser’s Op's Specs. and Maintenance Program. Lessee partially crews aircraft. Lessee has Maintenance staff that is trained by Leaser and uses their MX Program and forms and provides all labor free. The Leaser has to provide parts and forecasting.
The Lessee is probably a small company with a small fleet that has one of their A/C down for long term MX. At best they might break even but they don't lose "face" to their customers by canceling flights.
Jwenting From Netherlands, joined Apr 2001, 10213 posts, RR: 20 Reply 4, posted (12 years 1 month 2 days ago) and read 819 times:
You forgot a reason to enter into a wetlease (which is an important one somtimes):
Airline needs an aircraft to operate a scheduled service but either delivery is delayed by the manufacturer or previous owner or the scheduled aircraft is down for major unscheduled maintenance.