EgyptAir to expand fleet with 18 new Boeing aircraft

Ahram Online , Tuesday 14 Nov 2023

EgyptAir signed an agreement on Monday with Air Lease Corporation for 18 Boeing 737 MAX 8 aircraft, marking the first deal between the lessor and the airline, with deliveries scheduled to take place 2025-2026.

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EgyptAir signs an agreement with Air Lease Corporation at Dubai Airshow 2023 in UAE on 13 November. (Photo: EGYPTAIR)

 

The agreement was signed at Dubai Airshow 2023 in UAE, according to CEO Yehia Zakaria.

“This major deal… demonstrates EgyptAir's commitment to fleet modernization, environmental sustainability, and future growth plans," Zakaria said.

He affirmed that the 737-8 will greatly benefit EgyptAir's operating efficiency and passenger experience.

“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,” he noted.

Commenting on the agreement, Steven F. Udvar-Hazy, the executive chairman of Air Lease Corporation, 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 this type to the airline."

The 737 MAX is the latest generation of the Boeing 737, older models of which comprise a large portion of EgyptAir’s fleet.

EgyptAir achieved a notable 12 percent increase in passenger numbers during June 2023, surpassing its performance during the same period last year.

The airline also saw a 77 percent increase in aircraft occupancy rates and a 9 percent rise in the number of flights in June.

Moreover, the seating capacity offered on its flights increased by 24 percent compared to the same month in 2022.

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