Intrepid Aviation confirmed the acquisition of a new B777-300ER aircraft from Boeing in Seattle and its delivery on long-term lease to Manila-based Philippine Airlines.

“We are very pleased to extend the strong partnership we have forged with both companies,” said Doug Winter, Intrepid’s president and chief commercial officer.

Intrepid Aviation is a privately held commercial aircraft lessor, which owns commercial aircraft leased to airline operators worldwide. Intrepid Aviation focuses primarily on twin-engine widebody and large narrowbody equipment, such as the Airbus A330 and A321 and Boeing B777 and B787 families of aircraft.