Air Lease Corporation (NYSE: AL) announced an agreement to lease two new Boeing 787-9 Dreamliner aircraft to El Al Israel Airlines Ltd. (TASE: ELAL). Both aircraft are on long-term lease from ALC’s order book with Boeing and are scheduled to deliver to Israel’s flag carrier airline in the third quarter and early fourth quarter of 2017. These new Boeing 787-9 Dreamliner aircraft will replace older Boeing 747-400s in El Al's fleet and will be the first two 787s for the airline.
Air Lease Corp EVP Kishore Korde said, “We are very pleased to announce this lease placement with El Al, a new customer for ALC. We believe the efficiency and interior design of the new Dreamliner aircraft is a valuable addition to El Al’s all-Boeing fleet and will further strengthen the airline’s long-term stability and success."
The move is part of what El Al CEO David Maimon recently described as the largest fleet renewal in the Israeli carrier's history. The process involves the purchase and lease of 15 new Dreamliner wide-body Boeing 787-8 and 787-9 passenger jets and an option for the purchase of 13 additional planes.
Maimon said, "During the next five years, these aircraft will replace the 747-400 and 767 fleets. They are intended for EL AL's medium- and long-range destinations (New York, Boston, Toronto, Beijing, Mumbai, South Africa and other destinations). The Dreamliner, the most innovative and advanced aircraft in the world, have many operational advantages including fuel efficiency and low maintenance costs."
Published by Globes [online], Israel business news - www.globes-online.com - on December 15, 2015
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