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Air Lease Corporation Places 18 New Boeing 737-8 MAX Jets on Lease With EGYPTAIR

Updated: Nov 16, 2023

Air Lease Corporation has today announced the placement of 18 New Boeing 737-8 MAX airplanes on long-term lease with EGYPTAIR.  The aircraft will be delivered between 2025 and 2026 from ALC’s orderbook with Boeing.


Boeing 737-8 MAX Rendered in ALC Livery - Courtesy Boeing

On Monday (November 13, 2023), from the Dubai Airshow 2023, Air Lease Corporation (ALC) announced the placement of 18 Boeing 737-8 MAX airplanes on long-term lease with EGYPTAIR.  This is ALC’s first deal with the carrier, and the first 737-8s joining the airline’s fleet starting in 2025 and continuing through 2026. 


In today’s announcement, Air Lease Corporation’s Executive Chairman, Steven F. Udvar-Hazy, said,


“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.  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.”


Also commenting on the lease placement deal, ALC’s Assistant Vice President, Afeef Louis, said,


“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.”


EGYPTAIR Holding’s Chairman and CEO, Yehia Zakaria, added,


“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.  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.”


Based in Los Angeles, California, Air Lease Corporation (NYSE: AL) is a leading global aircraft leasing company.  The ALC team is principally involved in the purchase of commercial aircraft and leasing them to airlines worldwide with customized leasing and financing solutions.  At June 30, 2023, the company had a globally diversified customer base of 118 airlines across 63 countries.


 

Source: Air Lease Corporation

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