Fleet Modernization - MIAT MONGOLIAN AIRLINES WELCOMES ITS FIRST BOEING 787-9 DREAMLINER AIRCRAFT

MIAT Mongolian Airlines (“MIAT”) concluded a long-term agreement with AerCap for an operating lease for two (2) 787-9 Dreamliner aircraft in May 2023. The first of the two aircraft will be delivered in August 2023 and the second aircraft is expected to be delivered in the first quarter of 2024. The aircraft will come with 292 seats (30 Business /36 Premium Economy /226 Economy). This is an important milestone for MIAT Mongolian Airlines aiming for an expansion after the Covid-19 lockdowns, during which the airline had downsized its fleet from 8 to 5 and is now in the process of expanding. MIAT is planning to operate the aircraft on its routes to Frankfurt, Istanbul and Incheon with an eventual operation to the U.S.A. The 787-9 Dreamliner is a modern aircraft with extensive features for passenger comfort and renowned for its fuel efficiency and range flexibility. AirCap (NYSE: AER) is the global leader in aviation leasing with a fleet in excess of 1,700 aircraft (as of June 30,2023) and an order book of approximately 400 of the most in-demand new technology assets in the world.  

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