AerCap and EGYPTAIR Reach Agreement on the Conversion of 7 Previously Executed Leases for Airbus neo Aircraft

AerCap Holdings N.V. ("AerCap") (NYSE: AER) and EGYPTAIR today announced they have signed documents converting seven leases for Airbus A320neos into leases for seven Airbus A321neos.

The announcement was made during the 2019 Dubai Airshow in the presence of EGYPTAIR Holding Company Chairman & CEO Captain Ahmed Adel, EGYPTAIR Airlines Chairman & CEO Captain Ashraf Elkhouly, AerCap CEO Aengus Kelly and AerCap President & Chief Commercial Officer Philip Scruggs.

AerCap is the world's largest Airbus A320neo Family lessor, with 270 owned and on order.

Speaking at the Dubai Airshow, AerCap CEO Aengus Kelly said, "We are very pleased to continue supporting EGYPTAIR's narrowbody fleet renewal. These new generation Airbus aircraft, with additional capacity, will strengthen EGYPTAIR's fleet for many years to come.  We look forward to working with the EGYPTAIR and Airbus teams as these aircraft deliver."

"We are pleased to welcome the first Airbus A321neos, as we continue to reconfigure our fleet," said Capt. Ahmed Adel, Chairman and CEO of EGYPTAIR Holding. "Over the past few years, we have established a strong and sustainable partnership with AerCap that allows us to continue to offer our customers the service and comfort they are used to. "We continue to progress the introduction of the best-in-class service, and we thank AerCap for supporting our airline's fleet renewal strategy and vision."