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(L-R) Stephanie Pope, EVP and president and CEO of Boeing Commercial Airplanes and Aengus Kelly, AerCap CEO.
FARNBOROUGH: Lessor AerCap is expanding its Boeing 787 portfolio with a firm order for 15 787-9s while securing the flexibility to switch some aircraft to the larger 787-10.
The agreement, announced at the Farnborough Airshow, increases the Irish lessor’s overall 787 portfolio to approximately 140 aircraft. AerCap was the first lessor to take delivery of a 787 in 2013.
“The great news is that this is the market leader in the widebody world, and we don’t see any shortage of demand for this aircraft,” AerCap CEO Aengus Kelly said.
The substitution rights provide AerCap with flexibility to respond to airline requirements for either the 787-9 or higher-capacity 787-10. Boeing said the -10 typically accommodates about 50 more passengers than the -9.
Kelly explained that AerCap expects the -10 to become increasingly prominent as airlines seek additional capacity. “We saw over time how the 787-9 became the workhorse of the widebody industry at around 300 seats, and we’re very confident that we will see the same trend with the 787-10 over the coming years,” he said.
The latest aircraft order came after AerCap and Air France Industries KLM Engineering & Maintenance agreed to establish a 50-50 engine-leasing JV to meet growing demand for CFM International LEAP spare engines.
Subject to regulatory approvals, the venture initially plans to acquire about 40 new LEAP-1A and LEAP-1B engines, with deliveries scheduled through 2032. The first four are expected to become available to AFI KLM E&M customers by early 2027.
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