EGYPTAIR has sold its entire fleet of Airbus A220-300 aircraft to the lessor Azorra as the airline prepares for an influx of new planes over the coming years.
In total, Azorra has purchased 12 Airbus A220s, all of which were owned by EGYPTAIR and less than five years old.
John Evans, CEO and Founder of Azorra, said: “Our strong partnerships with Airbus and Pratt & Whitney have been key to facilitating this creative transaction. These young, well-maintained aircraft with freshly overhauled, updated engines from Pratt & Whitney have strong market demand and are very attractive to Azorra’s rapidly growing customer base.”
He added: “We are so grateful for EGYPTAIR’s trust and confidence in Azorra to provide a fleet transition solution, while clearing the path for new Airbus widebody aircraft.”
The agreement between EGYPTAIR and Azorra was announced on February 1, 2024, just three months after the carrier confirmed deals for new planes with Airbus and Air Lease Corporation (ALC) at the Dubai Airshow 2023.
In Dubai, the EGYPTAIR CEO Yehia Zakaria announced the airline will lease 18 Boeing 737 MAX 8 jets from ALC, with delivery expected from the start of 2025 through to 2026.
More significantly, though, EGYPTAIR also announced at the air show that it had placed an order with Airbus for 10 A350-900 widebody planes which will eventually become the carrier’s flagship aircraft.
Airbus designed the A220 family aircraft to feel like a wide-body aircraft, but with the arrival of the A350 on the horizon, EGYPTAIR may feel that the single-aisle Airbus is now surplus to requirements.
According to ch-aviation.com, only two of EGYPTAIR’s A220-300s are currently active, leaving 10 unused.
“We highly value the creativeness shown by Azorra. We are thankful to the team for their commitment which led to such a successful transaction,” Zakaria said.