AerCap to Lease Five Boeing 787, 10 737 MAX to Air Europa

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DALLAS - AerCap announced today it had signed a long-term leasing agreement with Air Europa (UX) for five Boeing 787-9 and 10 Boeing 737-8 aircraft. The airline expects to receive the aircraft between 2024 and 2026.

The additional Dreamliners will grow the airline's already existing Dreamliner fleet, while the 737-8s will replace the older-generation Boeing 737-800. UX therefore expects to become the first Spanish operator of the Boeing 737 MAX.

Air Europa is one of the major Spanish airlines that serves many destinations in Europe. UX also operates some long-haul transatlantic flights, especially in South America.

This AirCap order will allow the airline to renew its fleet with modern and fuel-efficient airplanes. It already leases many aircraft and has multiple agreements with AerCap.

AerCap is a major aircraft leaser, as it owns over 2,000 aircraft and has over 300 clients worldwide. The company also has multiple orders for Airbus and Boeing aircraft.

Due to the 737 MAX crisis and the COVID pandemic, UX had not yet taken delivery of its first 737-8. Photo: Daniel Gorun/Airways

Executives' Statements

Peter Anderson, AerCap Chief Commercial Officer (CCO), said, "Air Europa has been a long-time friend and valued customer of AerCap. With this landmark transaction for the airline, we are delighted to reconfirm our belief in the Air Europa business and management team and wish them every success with their fleet modernization program."

He continued, "The future is bright for the Boeing 787 and MAX programs. For Air Europa these new technology fuel-efficient aircraft will provide improved cost efficiencies and help them to meet their sustainability commitments. We thank the team at Air Europa for the confidence they have placed in AerCap, and we look forward to working together as these aircraft deliver."

Richard Clark, UX's Managing director, added, "We are very pleased to reach this agreement with AerCap, with whom we have a long and successful relationship. It reinforces our strategy of unifying the fleet around the most modern, efficient, and sustainable models in the industry. Once again, we are pioneers. Just as we were the first Spanish company to incorporate the Boeing 787 Dreamliner, we are now doing the same by adding the new Boeing 737 MAX to our fleet."

With this new lease agreement, UX accelerates its fleet renewal while strengthening its partnership with AerCap.

Featured image: UX already operates over 20 Boeing 787 aircraft, including the -8 and -9 versions. Photo: Alberto Cucini/Airways