Ann: Wet lease agreement options with Qantas Airways Limited, page-4

Wet lease is an arrangement covering the hire of an aircraft including the provision of a flight crew and sometimes fuel. So basically you’ll book a flight on the QF network and it will be and Alliance aircraft and crew. Not entirely sure but they may paint the aircraft in QF colours if it’s a 3 year agreement. This is good for Alliance and I would have thought any aircraft not being wet leased will be utilised on the Alliance network. The EJets are a brilliant aircraft loved by the travelling public. 2 x 2 seating makes is very comfortable. Where Alliance excel an organisation is owning their aircraft and not leasing like most players. A great business model and the Share Price will take care of itself when the EJets start contributing to the bottom line.