Agreement signed with AerCap for 21 new aircraft, including 6 Boeing 787-9s and 15 Airbus A320neos
By Akram Medhat
EgyptAir, the national carrier of the Arab Republic of Egypt, today announced its first cooperation with the US company AerCap, under which a new long-term deal was signed to purchase six Boeing 787-9 Dreamliner aircraft powered by Rolls-Royce engines, in addition to 15 Airbus A320neo aircraft powered by CFM LEAP engines.
Safwat Musallam, chairman of EgyptAir Holding Company, stated that the national company is moving at a fast pace in its fleet modernization plan, and in this regard has contracted to add 45 new aircraft of the latest global models to the fleet, in a deal that is the largest in the company's history, valued at about $6 billion.
This came during EgyptAir's participation in the Dubai Air Show, one of the most important global events in the air transport industry. Over these two editions of the show, EgyptAir has concluded its latest fleet modernization deals: last year it contracted with Boeing to purchase nine B737-800 NG aircraft, the ninth of which is expected to arrive next December, and this year the company continued concluding deals with the world's largest aircraft manufacturers, through which it succeeded in adding 45 aircraft to the fleet, to arrive over the next two years. The total number of aircraft that EgyptAir has recently contracted to join its fleet thus reaches 54, which is considered one of the company's most important achievements.
The announcement came during the signing ceremony held today at the Dubai Airshow 2017, attended by Egyptian Minister of Civil Aviation Sherif Fathy; Safwat Musallam, chairman of EgyptAir Holding Company; Ihssane Mounir, deputy director of international sales and marketing at Boeing Commercial Airplanes; and Fouad Attar, head of sales for the Middle East and North Africa at Airbus. The agreement was signed by Captain Sherif Ezzat, chairman of EgyptAir Airlines; Aengus Kelly, CEO of AerCap; and Philip Scruggs, AerCap's chief commercial officer.
This aircraft deal is part of the firm purchase orders placed by the US company AerCap with Airbus and Boeing, and the aircraft are scheduled to be delivered in 2019 and 2020.
In the same context, Safwat Musallam, chairman of EgyptAir Holding Company, expressed his happiness with this new cooperation with the US company AerCap, saying: "We are pleased with the new cooperation between us and AerCap, one of the largest leading companies in the field of aircraft leasing, which will be one of the contributors to EgyptAir's fleet modernization plan."
He added: "Today marks the beginning of a new kind of cooperation with one of the most important companies supporting the future plan that EgyptAir is currently adopting to modernize its fleet, which will later enable it to fulfill all its commitments and duties toward its customers by providing the best and finest services on board its modern fleet, equipped with the latest technology, so that customers get an enjoyable travel experience with all means of comfort and luxury."
In this context, Aengus Kelly, CEO of AerCap, said: "We are pleased that EgyptAir has chosen us to take part in its fleet modernization strategy and to support it with wide-body and medium-sized models, as EgyptAir is one of the oldest airlines in the world, having begun operations more than 85 years ago, so concluding such an agreement is one of the important deals for the company in implementing the future development plan it is currently pursuing."
He added: "There is no doubt that the modern Airbus models, as well as Boeing's new generation, will directly contribute to improving the performance of the company's fleet over the coming years. I would therefore like to thank our partners at EgyptAir who have placed their trust in us, and we look forward to working with the company's team during the aircraft delivery phases."
It is worth noting that AerCap is a US company and one of the world's leading aircraft suppliers. As of September 30, 2017, the number of aircraft owned and operated by the company reached about 1,506. AerCap serves about 200 customers in more than 80 cities, providing aviation solutions to airlines around the world. AerCap is listed on the New York Stock Exchange (AER) and is headquartered in Dublin, with offices in Amsterdam, Los Angeles, Shannon, Fort Lauderdale, Singapore, Shanghai, Abu Dhabi, Seattle and Toulouse.
