AerCap, EGYPTAIR Sign Lease Agreement for Two Boeing 787-9s

AerCap and EGYPTAIR have executed long-term operating leases for two Boeing 787-9 aircraft. The aircraft are from AerCap’s order book with Boeing and the first unit is scheduled to deliver in 2021 with the second unit delivering in 2022.

In October 2017, EGYPTAIR placed an order with AerCap for six 787-9 aircraft, all of which were delivered to the airline in 2019.

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

Speaking at the Dubai Airshow, Kelly said, “AerCap is very proud to continue to support EGYPTAIR’s widebody fleet renewal program and sustainable growth ambitions. We thank our friends and partners at EGYPTAIR for their continued confidence in AerCap and we look forward to working with the EGYPTAIR and Boeing teams as these aircraft deliver.”

“I would like to take this opportunity to express my sincere thanks for the kind support from AerCap. We are pleased to boost our cooperation with AerCap, a strategic partner that we recognize and hold in high regard,” said Adel. “We will continue to adhere to our strategic vision being the preferred airline for Egypt and worldwide travellers, bringing more advanced products and better service to passengers.”

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

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