Nauru's Minister for Civil Aviation says his government hopes to get back to full air services within a fortnight.
Dr Kieren Keke says the government is finalising an offer it will present to America's EXIM bank in an attempt to buy back the plane repossessed last month.
Air Nauru is currently running just two charter flights a week - one to Australia and one to Fiji.
But Mr Keke says they hope to conclude a short term lease shortly before buying back the plane."
"We're hoping to get this wet lease as an interim measure online as soon as possible which will allow air services to get back to normal within the next two weeks at the latest, while we still progress purchase of the aircraft which will still take some time to finalise documentation and get its maintenance up to speed and all that sort of thing."
Nauru has a promise of funding from Taiwan to help it resolve the airline's financial woes.