India's IndiGo looking at 'wet leasing' planes to meet travel demand

InterGlobe Aviation, the operator of India's top airline IndiGo, on Friday said it is looking at 'wet leasing' planes to meet growing demand for air travel as supply chain disruption leads to delays in the delivery of new aircraft. A 'wet lease' arrangement is one where the lessor maintains operational control of flights while providing aircraft and crew. The airline has been extending some of its existing leases and postponing the return of aircraft, its new Chief Executive Officer Pieter Elbers said during an analyst call after IndiGo reported a second quarter loss. "Another element which is under discussion today, and we are still in the final stages of clarifying, is a possible wet lease operation," Elbers said, adding that the market was recovering very rapidly. Demand for air travel both within India and to international destinations has recovered to near pre-Covid levels. IndiGo said it was optimistic about returning to operational profitability in the current quarter after its loss for the July-Sept period widened due to high fuel expenses and foreign exchange losses.<br/>