There are two common methods to acquire an aircraft. Firstly, by buying it directly from aircraft manufacturers such as Airbus, Boeing, Embraer, and Bombardier. Secondly, by leasing the aircraft. When it comes to leasing an aircraft, there are three different categories as described by the British Civil Aviation Authority:
- Dry Lease Agreement – An agreement between undertakings pursuant to which the aircraft is operated under the AOC of the lessee.
- Wet Lease Agreement – An agreement between air carriers pursuant to which the aircraft is operated under the AOC of the lessor.
- Damp Lease – A wet lease with partial crew
Both purchase and lease options are very complex processes. However, the most important decisions have to be made based on rigorous studies of an airline’s business model, and other factors such as market, geography, airports, and global outlook (cost of fuel and pandemics).
Related Topics
- Fleet Planning
- Fleet Management
- Aircraft Economics
- Aircraft Leasing