North America

Intrepid announces deal with Boeing

Boeing B777-300

Intrepid Aviation announced that it has concluded a revised agreement with the Boeing Company in respect of its purchase commitment for six firm B777-300ER aircraft.

Under this revised agreement, the first two aircraft will continue to deliver new on long- term lease to Philippine Airlines later this month and in December this year, as first announced in June 2015. In respect of the remaining four aircraft:

– two will be cancelled and instead Intrepid will acquire from Boeing two new B747-8F freighter aircraft to be delivered in 2017 and subject to long-term lease with a current Boeing customer of the type;

– two will be rescheduled from late 2017 and early 2018 to 1st half 2019.

“While we are confident in the long-term value proposition of the B777-300ER, we saw value for our business in converting a portion of our investment commitment with Boeing into earlier and uniquely capable B747-8F freighters on very long lease to one of the industry’s premier cargo operators,” said Doug Winter, Intrepid’s President & Chief Commercial Officer.

Intrepid Aviation is a privately held commercial aircraft lessor, which owns commercial aircraft leased to airline operators worldwide.

Intrepid Aviation focuses primarily on twin-engine wide body and large narrow body equipment, such as the Airbus A330 & A321 and Boeing 777 & Boeing 787 families of aircraft.

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