EgyptAir, Boeing, and DAE sign agreeement

The new partnership aims at enhancing operational efficiency, improving customer satisfaction and creating value for the companies involved and their customers. 

"This new agreement which implies adding new 8 Boeing Next-Generation 737s to our fleet will commemorate the mutual effort gathering both Boeing and EgyptAir which dated back since 1969. The delivery of this new order will help us maintain EgyptAir’s global flight schedule and continue to deliver a consistently great performance for our customers," said EgyptAir chairman and CEO Safwat Musallam. 

Delivery of the first aircraft is expected in February 2017. 

“I would like to offer my deep thanks and gratitude to DAE for their tremendous and pivotal role in financing 8 planes of the deal. We are pleased to co-operate, for the first time, with DAE through concluding this agreement as it will provide us the competitive edge to achieve our growth targets and help us strengthening our presence in a wider region. The new aircraft will help us in unlocking new international routes, thus providing a springboard for network expansion in the years to come,” added Musallam. 

According to the terms and condition of the deal, eight aircraft will be financed by DAE, headquartered in Dubai. The firm is specialised in aircraft leasing and aircraft maintenance services. 

“We are proud to welcome EgyptAir to DAE’s rapidly growing family of customers. DAE is pleased to have provided a financing solution for all 8 aircraft to support EgyptAir’s growth requirements, and we look forward to deepening our cooperation in the future. This transaction reflects DAE’s capital strength and its ability to act as a trusted provider of value-added financing solutions to airline customers,” said Khalifa AlDaboos, managing director of DAE. 

Marty Bentrott, vice president of sales for Middle East, Russia and Central Asia, Boeing Commercial Airplanes said: “Our relationship with EgyptAir started 50 years ago with a 707 and we are proud to see that relationship grow with the addition of 8 Next-Generation 737-800s, financed by another important Boeing customer, DAE.  This partnership with EgyptAir has grown and strengthened tremendously over the years and we look forward to working with them for the next 50 years providing value driven products and support.”