Better way than Wet Rates?

A friend and I are considering buying a plane that will be on
leaseback to a flight school.

I was wondering if the days of the "Wet Rates" are numbered with
fuel cost going up so high. As far as I can tell, renting planes
with fuel goes back to well before the '70s and I was wondering
what other systems have been tried? Based on a rate of fuel being
$1.25 a liter it looks like fuel will cost more for a year than an
engine and when your talking about planes that are worth less than
2x of the price of an engine, that messes up the economics.

What are the options for lease back that doesn't turn into
a fuel price gamble?

-tim
http://web.abnormal.com