NEWPORT BEACH, Calif. (May 4, 2017) – Aviation Capital Group LLC (“ACG”) announced today it has signed long-term lease agreements with EL AL Israel Airlines for two new B787-9s aircraft from ACG’s order book commitment with Boeing and two new B787-8s on a sale and lease-back agreement. The first aircraft is expected to be delivered in February 2018.
“ACG is delighted to have EL AL Israel Airlines, Israel’s flag carrier, continue its long-standing partnership with ACG by entering into this important transaction,” said Khanh T. Tran, CEO of ACG.
“As previously announced in September 2016, EL AL Israel Airlines is pleased to enter into these lease agreements with ACG and increase our future 787 fleet to a total of 16 aircraft. The 787 fleet will open a new chapter for EL AL Israel Airlines,” said David Maimon, CEO of EL AL Israel Airlines.
The 787 Dreamliner is creating remarkable opportunities for airlines around the world and dramatically improving the air travel experience. The 787’s unparalleled fuel efficiency and range flexibility enables carriers to profitably open new routes as well as optimize fleet and network performance. The 787 offers passengers pleasing features such as large dimmable windows, large stow bins, modern LED lighting, higher humidity, a lower cabin altitude, cleaner air and a smoother ride.
Aviation Capital Group is one of the world’s premier full service aircraft asset managers with approximately 426 owned, managed and committed aircraft, which are leased to approximately 100 airlines in approximately 45 countries. ACG was founded in 1989 and is an indirect wholly owned subsidiary of Pacific Life Insurance Company.