EgyptAir has announced plans to begin flying the 737 MAX as part of efforts to expand its operations.
A New Aircraft Type For EgyptAir
EgyptAir has said it’ll acquire 18 Boeing 737 MAXs on a lease thanks to Air Lease Corporation.
The new aircraft type will join an existing fleet of planes and is part of Egypt Air’s expansion efforts.
These upcoming Boeing 737 MAXs will begin being delivered in 2025 and conclude in 2026 and are brand new jets part of an existing order book from Air Lease Corporation.
As part of the contract, the lease agreement is slated to last 12 years and will aid fleet growth to 125 aircraft over the next five years.
This is also the first deal between Air Lease Corporation and EgyptAir. It’s thus a landmark deal to power the future narrowbody fleet for the company.
Comments From Executives
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.Afeef Louis, Assistant Vice President of Air Lease Corporation
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.Yehia Zakaria, Chairman and CEO of EGYPTAIR HOLDING.
The EgyptAir Current Fleet
EgyptAir has a fleet of 73 in-service aircraft, per the latest data from Cirium. However, a further 26 planes remain in storage.
However, The EgyptAir fleet has many aircraft types, leaving a rather over-complicated fleet.
Aircraft types such as the A220, A320, A320neo, A321neo, A330-200P2F, A330-200, A330-300, 737-800, 737-800SF, 777-300ER and 787-9 all exist within its fleet.
Therefore, adding the 737-8, thanks to a new lease agreement, will grow the airline’s operation to capture more market share.