For once I can answer a question in Tech Log!!! Maybe those Airline Management subjects are worthwhile afterall...NOT!
Wet Lease involves leasing of the aircraft including tech crew, cabin crew and depending on the circumstances may also include support staff such as engineering. This is usually done where an airline is leasing a type that is not presently operating in the fleet, or cannot provide the crew to fly it.
Dry Lease is simply the leasing of the aircraft, with no associated crew or support. This is often done to make up a short term capacity problem and usually involves leasing an aircraft type already operating for the airline.
Believe it or not, there is also
Damp Leases which is basically somewhere in the middle. It will include either tech crew
or cabin crew in addition to the aircraft.
Hope this helps you out!
Cheers,
TL
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"Tears, crying, wish you'd never learnt to fly. Should have taken that job at the Council."