To proactively expand their fleets during the peak travel season, Vietnamese airlines are flexibly combining both wet lease and dry lease arrangements.
Bamboo Airways has received a Boeing 737-900ER under a wet lease agreement with an Indonesian partner. - Illustrative image (Photo: tuoitre.vn)
Hanoi (VNA) – 💮Bamboo Airways has received a Boeing 737-900ER under a wet lease agreement with an Indonesian partner, and the aircraft is scheduled to enter service by the end of May, operating on high-demand domestic routes and selected international destinations across Southeast Asia, a representative of the airline confirmed on May 28.
The wet lease service is provided by BBN Airlines Indonesia, a subsidiary of the Avia Solutions Group. Once in Vietnam, the aircraft will undergo thorough technical checks and be repainted in Bamboo Airways’ livery before entering official operation.
Vietnam Airlines, Vietjet, and Vietravel Airlines are also racing to expand their fleets amid a tight aircraft leasing market and sharply rising lease prices. To proactively expand their fleets during the peak travel season, Vietnamese airlines are flexibly combining both wet lease and dry lease arrangements.
Wet leasing is an arrangement in which airlines lease aircraft along with crew, maintenance, and insurance from a foreign partner, allowing immediate operation without the need to train their own crew. This leasing model is used by Bamboo Airways and Vietjet during the summer and Lunar New Year (Tet) holiday periods to quickly boost capacity.
Meanwhile, dry leasing means carriers lease only aircraft without a crew, and they operate and maintain the planes on their own.
As the global aircraft leasing market heats up, wet leasing is seen as a flexible solution. Aviation experts said that wet-lease costs have risen by 20–30% compared to the same period last year, driven by strong demand from airlines in Europe, the Middle East, and India. Many available aircraft have already been booked, while extended maintenance schedules and parts shortages are tightening supply.
Domestically, in addition to Bamboo Airways, Vietnam Airlines plans to add new aircraft and increase the frequency of international flights starting in June.
Vietjet is expanding its fleet with several additional aircraft and currently leads the market in Vietnam with nearly 100 planes in operation.
Vietravel Airlines is also in negotiations to lease two additional aircraft to support its planned international network expansion.
However, all carriers are facing significant pressure from high leasing costs, strict contract conditions, and prolonged delivery timelines./.
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