Air Lease And EGYPTAIR Seal Deal For Boeing 737-8 Aircraft

Air Lease Corporation AL inked a deal with EGYPTAIR for the long-term lease of 18 new 737-8 aircraft.

The aircraft are slated for delivery between 2025 and 2026 and are sourced from ALC's orders with Boeing Company BA and signify the first engagement of ALC with Egypt's national airline.

The collaboration heralds a significant upgrade for EGYPTAIR, replacing older models with Boeing's latest offering, promising advancements in fuel efficiency and competitive operation in North Africa's aviation market. 

This transaction marks a strategic shift for EGYPTAIR, underlining the carrier's push for modernization and efficiency. By integrating the Boeing 737-8 into its operations, EGYPTAIR stands to significantly bolster its service offerings and market position.

"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," commented Steven F. Udvar-Hazy, Executive Chairman of Air Lease Corporation.

Price Action: AL shares closed higher by 2.50% at $37.36 on Friday.

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