State-run flag carrier EgyptAir has signed a preliminary agreement with global aircraft leasing company BOC Aviation to acquire eight new planes that would make the fleet average lifetime for the aviation company eight years.
The new planes, for which a final agreement will be signed in a few days, would be delivered in the second half of 2016, said Minister of Aviation Hossam Kamal in a statement on Sunday.
The purchase of the planes is the first phase of EgyptAir's fleet development plan up to 2025, said Kamal.
The company is working on a 10 year restructuring plan which should be finalised by mid-December, Chairman Sherif Fathi Attia told Reuters in October.
The last financial results published on the website for EgyptAir Airlines, one of nine subsidiaries in EgyptAir Holding Company, show losses of LE2.2 million in the fiscal year ending June 30, 2011.
BOC Aviation is a global aircraft leasing company, owned by the Bank of China with its headquarters based in Singapore.
The company leases, manages and sells commercial jet aircraft.
AIR announced a strategic partnership with Dynon Avionics as its exclusive avionics provider across its aircraft portfolio. The portfolio includes the AIR ONE personal eVTOL and the company&...
Bombardier Defense will provide three Global 6500 aircraft to fly maritime surveillance missions for the Australian Border Force. Metrea - the originator and leading provider...
Bell Textron announced the order of the first Bell 407GXi helicopter in India to TransBharat Aviation Private Limited, one of India’s most established non-scheduled rotary-wing operators. F...
Bell Textron delivered new Texas Department of Public Safety’s Bell 407GXi. This delivery comes on the heels of an announcement made during Verticon earlier this year h...
