Air Lease Corporation Announces Lease Placement of 18 New Boeing 737-8 Aircraft with EGYPTAIR
November 13 2023 - 6:33AM
Business Wire
DUBAI AIR SHOW – Today Air Lease Corporation (NYSE: AL)
announced long-term lease contracts for 18 new Boeing 737-8
aircraft with EGYPTAIR. These new Boeing aircraft are confirmed to
deliver to the airline beginning in 2025 through 2026 from ALC’s
order book with Boeing. This is the first deal between ALC 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,” said Steven F. Udvar-Hazy,
Executive Chairman of Air Lease Corporation. “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,” added Afeef
Louis, Assistant Vice President of Air Lease Corporation
“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,” said Yehia Zakaria, Chairman and
CEO of EGYPTAIR HOLDING. “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.”
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including expected delivery dates. Such statements are based
on current expectations and projections about our future results,
prospects and opportunities and are not guarantees of future
performance. Such statements will not be updated unless required by
law. Actual results and performance may differ materially from
those expressed or forecasted in forward-looking statements due to
a number of factors, including those discussed in our filings with
the Securities and Exchange Commission.
About Air Lease Corporation (NYSE: AL)
Air Lease Corporation is a leading global aircraft leasing
company based in Los Angeles, California that has airline customers
throughout the world. ALC and its team of dedicated and experienced
professionals are principally engaged in purchasing new commercial
aircraft and leasing them to its airline customers worldwide
through customized aircraft leasing and financing solutions. The
company routinely posts information that may be important to
investors in the “Investors” section of its website at
www.airleasecorp.com. Investors and potential investors are
encouraged to consult Air Lease Corporation’s website regularly for
important information. The information contained on, or that may be
accessed through, ALC’s website is not incorporated by reference
into, and is not a part of, this press release.
About EGYPTAIR
EGYPTAIR is the national airline of Egypt, based in Cairo. It
was established on May 7th, 1932, as the first airline in the
Middle East and Africa and the seventh in the world to join IATA.
EGYPTAIR’s network reaches more than 70 destinations across 60
countries around the world to meet the needs of its customers.
EGYPTAIR has been a Star Alliance member since July 2008. For more
news and information please visit: www.egyptair.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231113601743/en/
Investors: Jason Arnold Vice President, Investor Relations
Email: investors@airleasecorp.com
Media: Laura Woeste Senior Manager, Media and Investor Relations
Email: press@airleasecorp.com
Ashley Arnold Senior Manager, Media and Investor Relations
Email: press@airleasecorp.com
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