What distinguishes a wet lease from a dry lease in aircraft leasing?

The defining characteristic of a wet lease is that it includes the provision of crew and maintenance along with the aircraft. This means that when one entity enters into a wet lease agreement, the lessor supplies not only the aircraft but also the pilots and the necessary support staff to operate the aircraft, as well as handling maintenance tasks. This arrangement allows the lessee to focus on operations without needing to manage crew recruitment or aircraft upkeep.

This contrasts with a dry lease, where the aircraft is leased without crew or maintenance services; the lessee is responsible for providing their own crew and managing the aircraft's maintenance. The inclusion of these additional services in a wet lease typically makes it a more comprehensive solution for those looking for a more hands-off approach to aircraft operation.

While a wet lease can indeed be more expensive than a dry lease due to the additional services involved, this is not the defining factor that distinguishes the two types of leases. The critical element that clearly differentiates them lies in the inclusion of crew and maintenance services in a wet lease.