Dry lease

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A dry lease is a leasing arrangement whereby one airline (lessor) provides an aircraft without insurance, crew, ground staff, supporting equipment, maintenance, etc. Dry lease is typically utilized by leasing companies and banks, requiring the lessee to put the aircraft on its own Air Operator Certificate and provide aircraft registration. A typical dry lease starts from two years onwards and bears certain conditions with respect to depreciation, maintenance, insurances, etc, depending also on the geographical location, political circumstances, etc.

When the lessor provides crew and maintenance with the aircraft, the lease becomes a wet one.