US, EU, Norwegian and Iceland officials agree wet lease agreement

Officials in the US, EU, Norwegian and Iceland have signed an agreement that levels the competitive playing field for US air carriers seeking to wet lease to European carriers.  The agreement marks the end of a long-standing commercial concern for U.S. carriers, and restoration of their ability to participate on fair terms in the market for “wet lease” services.  DOT Deputy Assistant Secretary for Aviation and International Affairs, David Short, signed the agreement for the United States. A wet lease is a commercial arrangement whereby one air carrier rents out its airplanes and crews for use by another carrier.  These