The Principles and Practice of Aircraft Wet Leasing

This book explains the fundamental principles and conceptual underpinning of aircraft wet leasing. It explores aircraft wet leasing as an aircraft acquisition technique and airline business model. It analyses the structure, crucial terms, and critical provisions of a wet lease agreement and the practical reasons for their inclusion. It also examines the often confusing question of operational control and responsible party: which of the two carriers involved in wet leasing, contracting or operating carrier is liable to the passengers and third parties and accountable to the regulatory authorities for the safe, secure and efficient operation of the aircraft and responsible for the aircraft maintenance, airworthiness, personnel licensing, insurance and general operational control.The book examines aircraft wet leasing from the perspective of the airline lessor and the airline lessee. It gives the transaction parties the tools to negotiate, draft, read, understand, and profitably manage wet lease agreements.