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Choosing the best lease
We will simplify the complicated equation to help you make the right decision based on the right selection that fits your demands and needs.
Dry lease
Is the lease of the basic aircraft without insurance, crew, maintenance, etc.
Usually, a dry lease is utilized by leasing companies and banks. A dry lease requires the LESSEE to put the aircraft on his own AOC and provide aircraft registration. A typical dry lease starts from two years onwards and bears certain conditions as far as depreciation, maintenance, insurance, etc.
Are concerned. This depends on the geographical location, political circumstances, etc.
Operating Lease
Finance Lease
1- At the end of the lease term the LESSEE has the option to purchase the aircraft at an agreed price.
2- The lease payments are more than 90% of the market value of the aircraft.
3- The term of the lease is over 75% of the aircraft's usable life. With a finance lease the aircraft appears on the LESSEE's balance sheet, as it is viewed as. a purchase.
Types of Dry lease
Wet lease
Over the years aircraft leasing has gone through many changes and so today the terminology may not always reflect the service provided.
In the UK for instance, Wet lease used to mean, quite logically, including fuel.
To our knowledge, generally, only a charter service will include fuel in the price. Today, ACMI, Damp and Wet Lease are interchangeable, and a rate quoted will usually not include cabin crew (except for the legal requirement of a supervising purser).
Damp lease
Is similar to ACMI and Wet leasing, however, the term usually means ‘without cabin crew’ (in some countries it was referred to as Wet Lease ‘without fuel’). Under the Damp lease, the LESSEE will provide the cabin crew.
This can only be done if the cabin crew receives SEP (Safety and Emergency Procedures) training by the LESSOR, to be acquainted with the differences of the airplane. Nevertheless, the Lessor will provide a supervising cabin purser. This term is not often referred to these days, the term ACMI now covers this.