Aircraft dry leasing involves only the aircraft, without crew, maintenance or insurance.
The lessee adds the aircraft to its air operator’s certificate (AOC) and provides aircraft registration, but provides its own crew. Dry lease agreements typically last at least two years, depending on factors like depreciation, maintenance and insurance.
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Aircraft dry leasing is a lease agreement whereby a financing entity (lessor) provides an aircraft only (without crew, engineers or ground staff). An airline leases the aircraft (without crew, maintenance or insurance) to a leasing company or bank, placing the aircraft on its own Air Operator Certificate (AOC) and providing the aircraft registration, but it uses its own flight deck and cabin crew to operate the aircraft.
A dry lease contract is influenced by a number of elements such as depreciation, maintenance, insurance as well as the political and geographical location of the lessee and usually lasts more than two years.
Dry leasing is more profitable for the lessee over a long period of time because it does not outsource the costs associated with the ACMI ("wet lease" or "damp lease") such as crew (hotac and travel), maintenance and insurance, over which it has no control, and these aspects are managed by themselves.
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