El Al Israel Airlines will receive two additional Boeing 787 Dreamliners following a lease agreement signed with aviation leasing company AerCap on the Paris Air Show on Tuesday. The carrier currently operates an all-Boeing fleet comprised of 737-800 and -900ER models, the 777-200ER, and 787-8 and -9 aircraft.
The deal is a component of El Al’s multi-year strategic plan, where the airline reportedly plans to serve 7.5 million passengers annually and increase its revenue to greater than $3 billion per 12 months. With more Dreamliners on tap, the airline expects to expand its global network.
Increasing the widebody fleet
Following the lease agreement, El Al expects to welcome two 787-9 Dreamliners to its fleet from AerCap, the world’s largest 787 owner. The leasing company reportedly has over 120 aircraft owned, managed, and on order. In keeping with El Al, the jets are set to be delivered from AerCap in late 2025 and 2026.
Photo: AerCap
Throughout the ceremony where the airline announced the agreement, AerCap CEO Aengus Kelly said the corporate is pleased to support El Al.
“AerCap is delighted to partner with EL AL on this deal following the long history of successful cooperation between our two corporations. We’re very happy to support EL AL’s ongoing fleet modernization program with the lease of those two latest 787s and help them meet their sustainability commitments. We wish Dina Ben Tal Ganancia and all of the team at EL AL continued success.”
Over the subsequent five years
El Al detailed its five-year strategic plan earlier this month, highlighting three fundamental pillars, in response to The Jerusalem Post.
- Adding more flights and carrying more passengers, with a goal of serving greater than 7 million per 12 months
- Improve the touristic experience for travelers through a three way partnership with Issta, a tourism services provider in Israel
- Renew and modernize its fleet
Photo: Vincenzo Pace | Easy Flying
In an announcement, El Al CEO Dina Ben Tal Ganancia said the brand new 787s will keep the airline heading in the right direction to achieve its goals.
“As a part of EL AL’s strategic implementation plan, we signed a crucial agreement today for the lease of two latest 787-9 Dreamliners, that may join EL AL’s wide-body fleet in 2025 and 2026. These advanced aircrafts shall be the 18th and nineteenth aircraft in our fleet. With a purpose to meet our business goals, set within the strategic plan, we’re required to regulate our acquisition plan, and I’m pleased to sign this agreement today, which is one other step towards realizing the goals for our fleet. These aircraft enable us to expand our route network and add more attractive destinations for our customers. I would love to thank our partners at AERCAP and Boeing for his or her support and partnership along the best way.”
A brand new era
With Arabian Peninsula airspace officially open for Israeli airlines, El Al considers it a milestone to further help the airline with its planned advancements.
said Sharon Brownstone, General Counsel & Strategic Partnerships at El Al, to the Jerusalem Post.
The strategic plan coincides with the rapid growth at Ben Gurion International Airport following the pandemic. In keeping with the carrier’s Investor Presentation in March of this 12 months, every fourth passenger on the airport flies El Al. Passenger numbers on the airline’s hub are expected to top 30 million passengers in 2028.