Different Types of Jet Leasing: Dry Leasing vs. Wet Leasing
When you choose jet leasing, you do so with the assumption that everything is going to be taken care of. Learn the best way to lease your next jet.
More and more people are finding themselves turning toward the convenience and safety of private jets to meet their travel needs. Mix these newcomers with the more seasoned private travelers and you have got a hefty list of bookings.
Because navigating the world of private travel can be a bit overwhelming for those who are not familiar with it, it is important to shed light on a few key factors. In particular, the different types of jet leasing. After all, when you book a flight from Chicago to Los Angeles, you assume it will be ready to get you from point A to point B when you arrive at the appropriate date and time listed in your booking, right?
Well, not always.
Private jets are leased – and subsequently chartered – using two main types of leasing – dry leasing and wet leasing. And, if you want your travel plans to take off smoothly, you are going to want to pay attention.
When you charter an aircraft, the charter company likely does not own the jet. Instead, they have leasing agreements with the owners of the aircraft. In other words, the owner of the aircraft keeps the title, but the jet is transferred to the lessee. This allows charter companies to have a wide array of quality jets available for you to take advantage of.
Face it – buying a jet is incredibly expensive and, if purchasing them was required, you likely would not have very many options when you want to book your next trip.
Do not worry, leasing aircraft is all regulated by the FAA. In fact, there are two main types of leases that are used when it comes to jet leasing.
Choosing to dry lease an aircraft can leave you thirsty for more – and that is because it doesn’t come with anything. Dry leasing an aircraft gets you, well, an aircraft. There is no crew, no pilot, and no maintenance plan.
So, who opts for dry leasing a private aircraft? This is a perfect option for an individual or company who doesn’t have or want to spend the high-priced costs that are required upfront in purchasing. Not to mention that depreciation is bound to occur over time. In addition, it allows those who are interested to get a chance to try different aircraft before making that huge investment.
A wet lease is the first and most popular type of jet leasing. With this type, the owner of the jet leases it out to the lessee for any use stated within the terms of the lease. What makes wet-leasing different from dry leasing is that this lease comes with a flight crew.
There is something important about having a specific crew for a specific jet. After all comfortability and familiarity are factors that come with giving a magnificent flight experience – something that may not be found with dry leasing.
Perhaps the best part of wet jet leasing is the fact that the leasing company is in charge of conducting maintenance on the aircraft as well as keeping it thoroughly insured and protected.
In other words, many benefits come with wet leasing that you would not otherwise get with a dry lease. Let’s take a closer look.
Benefits of Wet Leasing
When it comes to investing in private jets, choosing the right type of lease – whether wet or dry – is going to come down to your vision for the jets themselves. For charter companies, the customer experience is what stands out most.
By signing a wet lease, we gain a few impactful benefits – benefits that we pass on to our customers.
Ready, set, go.
There are those travelers who book months (or even years) in advance. Then some choose to head out of town on a whim – either with a few weeks’ notice or a few hours! With dry leasing, you need time to get a crew together and to check out the jet itself. However, with wet leasing, you have everything you need to get in the air at a moment’s notice.
Traveling via private jet comes with a sense of luxury. There are things we seek out when choosing this travel method – and almost expect. And having a variety of jets to choose from is one of them. Since purchasing a jet itself is incredibly expensive, jet leasing provides a more cost-effective manner to give travelers options and variety to choose from.
Reduce the worry.
Caring for travelers and jets – and making sure everything is maintained, insurance, and properly handled can be a heavy burden. This is especially true when you have many jets in your fleet. Wet leasing allows for some of this burden to remain on the lessor rather than weighing solely on the lessee.
Jet Leasing: Finals Thoughts
When it comes to booking your travel arrangements, the last thing you think about is creating a miserable experience, right? You want to travel with confidence and without worry. You want to be able to rest easy as you travel from one place to the next without much effort.
When you choose to travel private, you do so with the assumption that everything is going to be taken care of for you. And, when you arrive at the airport, you want to have the confidence that the private jet your chartered will have been cared for and maintained and ready to take flight. That means you also expect a pilot and a flight crew to be there, too.
If you look back over the different types of jet leasing, you will notice that dry leasing does not come with any of these perks – which leaves the responsibility on the leasing (or charter) company. Wet leasing, however, is different. From the lessor to the lessee and to you, the passenger, there are many benefits to be had.
The private travel sector does not show any sign of slowing down. The more travelers have sought COVID-friendly travel options, the more they have discovered the perks of traveling via a private jet rather than a commercial airliner.