I assume that this is a wet lease with Nex Aviation
The 146s are to be wet leased.
As per the Aer Arann press release, it is "just" a franchise operation with Aer Arann simply marketing the flights under their brand. As such, all risks should be with Nex Air. No wet lease.
The whole operation amounts to just 10 flights/week. How keeps Nex Air the aircraft busy - on some days it is just one rotation under the RE brand.