LOS ANGELES, California, December 21, 2017 — Today Air Lease Corporation (NYSE: AL) announced the long term lease placement of two Boeing 737-800 aircraft with FlyEgypt (Cairo). The first of the two aircraft delivered in December 2017, and the second is scheduled to deliver in January 2018.
“We are very pleased to announce these two 737-800 lease placements with our new customer FlyEgypt. These aircraft are key additions to FlyEgypt’s fleet as they continue to execute their fleet development plan while operating from and to under-served beautiful tourist attractions and resorts in the region,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.
“FlyEgypt is honored to lease the two Boeing 737-800’s from our new friends at Air Lease Corporation. These Boeing 737s will enable FlyEgypt to grow our route network to Europe and the Middle East and also increase our flight schedule frequencies. We look forward to a successful year in 2018 as we expand our jet fleet with the support of Air Lease,” said Captain Ahmed Talaat, CEO of FlyEgypt.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
About Air Lease Corporation (NYSE: AL)
ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.
FlyEgypt is the first budget airline in Egypt, with a dream of putting destinations within people’s reach at affordable fares. The rising need for a privately owned low cost network carrier to ease travel to, from and via resort and tourism attraction cities in Egypt encouraged a group of TMG (Talaat Mostafa Group) investors to form FlyEgypt given the growing travel and tourism industry in Egypt. Offering unique flexibility and the lowest operating costs, FlyEgypt utilizes a single type aircraft of Boeing 737-800. The Next-Generation 737 leads with demonstrated success in the low cost, network, extended operation, charter, startup airline, and business jet markets.