EgyptAir Launches Fleet Overhaul
EGYPTAIR SIGNED deals for three new types at the show as part of a fleet recapitalisation programme. The standout agreement was a letter of intent (LOI) with Bombardier for 24 CS300s, while it also teed up lease deals with AerCap for six Boeing 787-9 Dreamliners and 15 Airbus A320neos. The Bombardier LOI, which is expected to be firmed by January, consists of 12 aircraft and a dozen purchase rights. If all the purchase rights are exercised, the deal is valued at nearly $2.2bn. Safwat Musallam, Chairman and CEO of EgyptAir Holding Company, said: “We undertook a thorough evaluation process of our fleet and realised that the CS300 would fit perfectly into our business plans and growth strategy.”