Lithuania’s Global Airways has commenced operating commercial flights on behalf of Corendon Airlines Europe. The flights are part of a wet lease agreement, meaning that both the aircraft and crew are being provided by Global Airways.

The aircraft in question is Global Airways’ first and only Airbus A320 – a 13-year-old former Wizz Air aircraft, now registered as LY-LGA. The flights will be operated from Nuremberg Airport, where the aircraft arrived on May 20th, after undergoing maintenance in Larnaca, Cyprus.

Flights began just a few days later on May 23rd. According to data from FlightRadar24.com, the A320 has since operated services to Ibiza, Chania, Corfu, Gran Canaria, and Tenerife.

Why do airlines use wet lease agreements?

Wet leasing from other carriers is a popular way for an airline to operate flights that it may not have the required aircraft or crew members to do so, allowing it to fill any gaps in its flying schedule or to quickly take advantage of changes in the market.

The pandemic has also provided more opportunities for wet leasing, and the market has been buoyant recently, particularly in Europe, where we have seen several new agreements in place.

Wet leasing also of course benefits the lessee. If we look at the example of Finnair, a large portion of its main market in Asia is still closed to the majority of travelers. The airline has therefore had to find alternative ways to utilize its aircraft and crew, and to keep revenue coming in. It is operating a series of flights to the US on behalf of Eurowings Discover this summer, and is also leasing four Airbus A321s to fellow oneworld member British Airways.

Wet leasing is also referred to as ACMI leasing, standing for aircraft, crew, maintenance, and insurance.

A closer look at Corendon Airlines Europe

Corendon Airlines Europe is a Maltese-registered charter airline that commenced operations in May 2017. From a handful of bases in Germany – Nuremberg, Cologne/Bonn, and Munster – it operates flights to a variety of popular tourist destinations across Europe and North Africa, such as Funchal, Ibiza, Heraklion, and Sharm El Sheikh.

Corendon Europe Airlines is no stranger to wet lease operations, and already has agreements with a number of carriers. This includes three Boeing 737-800s from Ukraine’s SkyUp, two Boeing 737-800s from each of Air Explore and Go2Sky, two Airbus A320s from DAT LT, and one Airbus A321 from Privilege Style.

The carrier also has nine Boeing 737-800s of its own.

Global Airways - part of Global Aviation

Global Airways, based in Lithuania, is an affiliate of South African Global Aviation, based at Johannesburg OR Tambo International Airport. A relative newcomer to the market, Global Airways received certification in March 2022.

The airline currently only has one Airbus A320 in its fleet, although it does have plans to add two more A320s in the near future.

What do you think of Global Airways’ entry into the wet lease market? Share your thoughts by commenting below.

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