IndiGo, SpiceJet to wet lease aircraft in the winter to enhance capacity

Indian airlines are being forced to wet lease aircraft in order to enhance capacity for the forthcoming winter schedule due to a slowdown in the delivery of new aircraft, reported The Economic Times.
 

In order to increase the capacity on foreign routes, IndiGo, the largest airline in India, has finalised a contract to wet lease up to three Boeing 777 aircraft. The airline, which had previously only operated single-class narrow-body aircraft, will now provide business class in addition to economy on these widebody aircraft.
 

Although there have been discussions of wet leasing narrow-body Airbus 321 aircraft, no decision has been made yet.

Rival SpiceJet has reached an agreement with Turkish carrier Corendon to wet lease up to seven Boeing 737 Max aircraft. 

What is wet leasing?
 

Wet leasing is an arrangement where the lessor provides an aircraft along with crew and maintenance, and has operational control. It is costlier than dry lease under which the lesse provides its own crew and exercise control. It is anticipated that wet lease may lead to a spike in operational cost. But the airlines fear that if they don’t deploy enough capacity, they may lose market share, besides lucrative slots at airports.
 

Wet leasing is permitted by the regulator, the Directorate General of Civil Aviation, for a maximum of six months under emergency circumstances, such as when an aircraft is grounded. An aircraft may be “grounded” when it requires modification or repair until the necessary work has been completed and the aircraft is once again fit for flight.