Air Lease entered long-term lease contracts for 18 new Boeing 737-8 aircraft with EGYPTAIR. These new Boeing aircraft will be delivered to the airline between 2025 and 2026 from Air Lease’s order book with Boeing. This is the first deal between Air Lease and the Egyptian flag carrier and the first 737-8 addition to the EGYPTAIR fleet.
“We are pleased to announce this deal for 18 new Boeing 737-8 aircraft with ALC’s new customer, EGYPTAIR, and be the first to lease the 737-8 to the airline,” Steven F. Udvar-Hazy, executive chairman of Air Lease, said. “As a leading carrier in North Africa, EGYPTAIR will continue to excel in the market with these 18 new generation Boeing 737-8 aircraft that will replace EGYPTAIR’s aging narrowbody fleet with the most advanced, fuel-efficient Boeing aircraft and will significantly enhance the airline’s fleet operations and competitiveness.”
“Our team is honored to conclude this important transaction with EGYPTAIR and support the airline with their single-aisle fleet development. We thank our friends at EGYPTAIR for choosing to partner with ALC on this major investment to modernize and grow the carrier’s narrowbody fleet and look forward to a successful longstanding relationship between ALC and EGYPTAIR,” Afeef Louis, assistant vice president of Air Lease, said.
“This major deal with ALC for 18 new Boeing 737-8 aircraft demonstrates EGYPTAIR’s commitment to fleet modernization, environment sustainability and future growth plans. The 737-8 will greatly benefit EGYPTAIR’s operating efficiency and our passenger experience far into the future,” Yehia Zakaria, chairman and CEO of EGYPTAIR, said. “We are thrilled to partner with a pioneering lessor such as Air Lease Corporation on this strategic initiative to support EGYPTAIR’s fleet renewal and growth plans.”
