El Al and AerCap sign agreement for two Boeing 787-9s in order rejig

El Al and AerCap signed agreement for the airline to lease two Boeing 787-9s
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El Al Israel Airlines and AerCap, an Ireland-based lessor, have signed an agreement for two Boeing 787-9 aircraft. 

Following the agreement, the Israeli carrier is scheduled to take delivery of two new 787-9s in Q4 2025 and Q1 2026. The delivery dates are in line with El Al’s plan to operate 22 Boeing 787s by 2028, a timeline that the company outlined in its Investor Presentation in May 2023. 

Currently, El Al has 15 Boeing 787 aircraft in its fleet: three 787-8 and 12 787-9s, according to ch-aviation.com data. 

“As part of EL AL’s strategic implementation plan, we signed an important agreement today for the lease of two new 787-9 Dreamliners, that will join EL AL’s wide-body fleet in 2025 and 2026. These advanced aircrafts will be the 18th and 19th aircraft in our fleet,” commented Dina Ben Tal Ganancia, Chief Executive Officer of El Al. According to her, the airline was forced to adjust its aircraft acquisition plan to meet the goals set out in its strategic plan. 

The same investor presentation from May 2023 outlined that the airline will look to add more services beyond its airline operations, including tour packages, hotels, attractions, and other indirect ancillaries. Furthermore, the company will also focus on investments and other financial instruments to achieve sustainable growth in the next few years. 

“I would like to thank our partners at AerCap and Boeing for their support and partnership along the way,” added Ben Tal Ganancia. 

Currently, AerCap is the manager of the biggest Boeing 787 portfolio, with the lessor’s fleet numbering 126 aircraft of the type, including ordered aircraft. 

“We are very pleased to support EL AL’s ongoing fleet modernization program with the lease of these two new 787s and help them meet their sustainability commitments. We wish Dina Ben Tal Ganancia and all the team at EL AL continued success,” stated Aengus Kelly, CEO of AerCap. 

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