wet lease
A "wet lease" involves renting an aircraft or equipment along with the necessary personnel and services, often used for short-term needs in aviation and other industries.
🇺🇸 US Voice:
🇬🇧 UK Voice:
Definition
C1Aviation
(technical)A leasing arrangement where one airline provides an aircraft, crew, maintenance, and insurance to another airline.
Example
- The airline opted for a wet lease to handle the increased demand during the holiday season.
C1Shipping
(technical)A charter agreement where the lessor supplies a vessel, crew, and fuel to the lessee.
Example
- The company used a wet lease to quickly add an additional vessel to its fleet.
C1General Business
(technical)A rental agreement where the lessor provides the asset along with personnel to operate it.
Example
- The construction firm entered into a wet lease to rent heavy machinery along with operators.