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EgyptAir Pursues Further Fleet Modernization

EgyptAir Pursues Further Fleet Modernization

2017 11 16

2017 11 16

By Alan Dron, ATW Daily News

Dublin-based lessor AerCap announced two deals Nov. 15 to largely complete the renewal of EgyptAir's equipment inventory.

The Cairo-based carrier is to take long-term operating leases on 15 Airbus A320neo narrowbodies and six Boeing 787-9 widebodies. The A320neos will be delivered in 2020 and be powered by CFM International LEAP-1A engines, while the 787-9s will arrive in 2019 and have Rolls-Royce Trent 1000 engines.

Both leasing deals were announced at the Dubai Air Show and followed on the heels of Nov. 14's LOI from EgyptAir for up to 24 Bombardier CS300s for its EgyptAir Express domestic and regional subsidiary.

"These transactions represent an important milestone in the future development of the airline," AerCap CEO Aengus Kelly said of his company's two deals.

Speaking to ATW earlier in the show, EgyptAir Holding Co. chairman and CEO Safwat Musallam said the airline's studies forecast a rise in traffic in both Egypt and across the Middle East and that it was looking to renew its fleet with more efficient aircraft to lower its costs and offer more attractive prices to customers.

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