What is a dry lease?

A dry lease refers to a leasing arrangement where an aircraft is provided without any crew, insurance, or maintenance services. In this type of lease, the lessee is usually responsible for operating the aircraft, including hiring the necessary crew and managing all maintenance and operational aspects. This arrangement allows the lessee to have more control over their aircraft operations while potentially reducing costs associated with crew and other services.

In contrast, a wet lease includes the provision of aircraft along with the crew and often includes insurance and maintenance services. Therefore, the distinction lies in the level of service provided; a dry lease is bare-bones, mainly transferring possession of the aircraft itself to the lessee. This is particularly advantageous for companies that have their own operational capabilities and prefer to handle the management directly.