November 18, 2019
AerCap and EGYPTAIR Reach Agreement on the Leasing of 2 Additional Boeing 787-9 Aircraft
DUBLIN - AerCap Holdings N.V. ("AerCap") (NYSE: AER) and EGYPTAIR today announced they 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 announcement was made during the 2019 Dubai Airshow in the presence of EGYPTAIR Holding Company Chairman & CEO Capt. Ahmed Adel, EGYPTAIR Airlines Chairman & CEO Captain Ashraf Elkhouly, AerCap CEO Aengus Kelly and AerCap President & Chief Commercial Officer Philip Scruggs.
AerCap is the world’s largest customer of the 787 aircraft, with a total of 117 owned and on order.
Speaking at the Dubai Airshow, AerCap CEO Aengus 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 Capt. Ahmed Adel, CEO and Chairman of EGYPTAIR Holding Company. “The B787-9 aircraft is the most technologically advanced aircraft,” Capt. Adel added. “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 the global leader in aircraft leasing with 1,360 aircraft owned, managed or on order and $43.5 billion of total assets as of September 30, 2019. AerCap has one of the most attractive order books in the industry. AerCap serves approximately 200 customers in approximately 80 countries with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and has its headquarters in Dublin with offices in Shannon, Los Angeles, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle and Toulouse.
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