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Analysis Before COVID-19 CityJet had wet lease agreements with five airlines, but four of those evaporated, leaving just SAS, with whom CityJet had a mutual dependency as they were responsible for an enormous proportion of SAS’ regional network. The airline went through a process in Ireland called Examinership, unique in the EU, which is like chapter 11 except in the US chapter 11 is more creditor-driven; examinership is more possession-driven. The airline wants to continue with the wet lease model, but could also consider a franchise or quasi-franchise model. CityJet is looking to obtain a UK AOC to protect against some potential restrictive rules that may be coming in. ....