The United States, European Union, Iceland, and Norway sign an agreement, removing time constraints on aircraft wet leasing. 

The United States Department of State announced singing the document on August 27, 2017. The U.S. authority further explains that the agreement will allow the country’s air carriers to lease aircraft with crew to “their European partners” without time constraints. 

“European Community (EC) regulations (which are also applied by Norway and Iceland) for years severely limited U.S. carrier ability to “wet lease” to EU carriers,” read a statement by the U.S. Department of Transportation. “ At the same time, EU carriers faced no such limitations under DOT regulations when providing aircraft and crew either to each other or to U.S. carriers”.

 
READ MORE:
 
Revision of the rules will allow the EU to lift the existing time restriction on wet-leasing and solve a dispute between the EU and the U.S.