EgyptAir has signed two lease agreements, with Macquarie Air Finance and BOC Aviation, covering five Airbus A350-900, complementing its order for 16 aircraft and supporting a major long-haul renewal plan.
During the Dubi Airshow, EgyptAir have confirmed it has expanded its long-haul renewal programme with two separate lease agreements. The agreements cover five Airbus A350-900s that’s fits within the airline’s larger plan to introduce 16 aircraft over the next few years.
EgyptAir expands with more Airbus-A350s
EgyptAir have signed two lease agreements with two different companies, the first transaction is with BOC Aviation. It will purchase and lease back three A350-900s to the Egyptian airline through a mix of long-term operating and finance leases. The first delivery is already scheduled for 2025 and all the aircrafts are to be powered by Rolls Royce Trent XWB engines.
Steven Townend, Chief Executive Officer and Managing Director, BOC Aviation, has said:
“We are excited to make our first delivery to EgyptAir, which marks the beginning of a new partnership and expands our footprint in Africa. The technologically advanced Airbus A350 aircraft makes an ideal choice for airlines looking to upgrade their fleet.”
EgyptAir Holding Company Chairman and Chief Executive Officer, Captain Ahmed Adel said
“We are truly delighted to partner with BOC Aviation on this historic first Airbus A350 aircraft financing for EGYPTAIR, which marks a new chapter in our airline’s history. With these aircraft we can expand our network to more destinations, enhance our world-renowned reputation and build upon our new relationship with leading and innovative lessor, BOC Aviation. We look forward to many more transactions in the future working together.”
EgyptAir has also signed with Macquarie Air Finance that covers an additional two A350-900s. These aircraft will arrive in 2026 under a leaseback arrangement that provides EgyptAir with flexible financing for its preparations for a major expansion of its long-haul network.
Eamonn Bane, Chief Executive Officer of Macquarie Air Finance, has said about the agreement:
“This agreement strengthens our strategic presence in the EMEA region and builds on our successful relationship with the EgyptAir Group. The A350’s exceptional performance and market liquidity make these assets an excellent addition to our portfolio.”
EgyptAir’s A350 acquisition strategy
The two lease deals help feed into EgyptAir’s broader A350 programme. The airline has steadily increased its order for the Airbus A350 type over the years, creating a fleet that will eventually replace its ageing Boeing 777-300ERs.
From late 2026 EgyptAir is expecting to begin the phase out of the 777s, by that point the first seven A350s should already be in service. Airbus’ latest delivery schedule shows one aircraft arriving in December 2025, six in 2026, three in 2030, and the remaining six between 2030 and 2033.
EgyptAir currently operates a mixed widebody fleet of A330-200s, A330-300s, 777-300ERs and 787-9s. The airline has been shifting gradually towards newer and more efficient aircraft types, with the new A350-900 reducing fuel burn and emissions, on long-range flights (up to 9,700 nautical miles), by up to 25% compared with older generation types.
With the lease agreements now in place and deliveries one the way by the end of the year, EgyptAir is setting up one of the largest A350 fleets in Africa and the Middle East.
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