AerCap, EGYPTAIR Sign Agreement for Seven Airbus Aircraft

AerCap and EGYPTAIR have signed documents converting seven leases for Airbus A320neos into leases for seven Airbus A321neos.

The two companies reached the agreement during the 2019 Dubai Airshow in the presence of EGYPTAIR Holding Company Chairman and CEO Captain Ahmed Adel, EGYPTAIR Airlines Chairman and CEO Captain Ashraf Elkhouly, AerCap CEO Aengus Kelly and AerCap President and Chief Commercial Officer Philip Scruggs.

AerCap is the world’s largest Airbus A320neo family lessor, with 270 owned and on order.

Speaking at the Dubai Airshow, Kelly commented, “We are very pleased to continue supporting EGYPTAIR’s narrowbody fleet renewal. These new generation Airbus aircraft, with additional capacity, will strengthen EGYPTAIR’s fleet for many years to come. We look forward to working with the EGYPTAIR and Airbus teams as these aircraft deliver.”

“We are pleased to welcome the first Airbus A321neos, as we continue to reconfigure our fleet,” said Adel. “Over the past few years, we have established a strong and sustainable partnership with AerCap that allows us to continue to offer our customers the service and comfort they are used to. We continue to progress the introduction of the best-in-class service, and we thank AerCap for supporting our airline’s fleet renewal strategy and vision.”

AerCap is an aircraft leassor with 1,360 aircraft owned, managed or on order and $43.5 billion of total assets as of September 30, 2019.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.