Wet Lease Agreements Under Turkish Regulations

A wet lease is a leasing arrangement whereby the lessor (one airline or aircraft operator) provides an aircraft, complete crew/only cockpit crew, maintenance, and insurance (hull and third party liability) to the lessee (another airline or aircraft operator), which pays by hours operated. The term ACMI is an acronym signifying the four main elements of a wet lease which are; Aircraft, Crew, Maintenance and Insurance.

Commercial Aircraft Operators can resort aircraft leasing in order to obtain newer aircraft models, fleet flexibility to initiate new routes or aircraft types, flexibility to increase or decrease capacity quickly, no residual value risk, lower cash outlays to preserve working capital.