Jet Airways talking to airlines for wet lease conversion

New Delhi: Private airline Jet Airways has converted the wet lease of its aircraft -- where airplanes are given along with the crew and maintenance obligations -- to Turkish Airlines into dry lease, which comes without staff and other frills, and is hold ing talks with GulfAir and Oman Air for similar conversion.
The Naresh-Goyal promoted airline had given on wet-lease two Airbus 330 to Oman Air and four Boeing 777 planes to Gulf Air earlier this year. While the lease term with Gulf Air will expire in October this year, the agreement with Oman Air continues till October-November.
“We have converted the lease with Turkish Airlines effective last month. Three Boeing 777s have been delivered to it on dry lease and another one would be delivered to it soon,'' Jet Airways Executive Director Saroj Datta told PTI.
Conversion of wet lease into dry lease would result in revenues of Jet Airways going down by almost half on these airplanes.
16/08/09 PTI/BusinessLine

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Categories: Foreign Aug 2009, Jet Airways Aug 2009