Israel’s El Al has purchased a Boeing 777 fuselage in order to have spare engines available for its fleet of the twinjet type.
The airline disclosed the acquisition as it released third-quarter financial results.
El Al says it was purchased from a “foreign company” for a consideration of $7.3 million, without identifying the airframe or elaborating on the source.
The carrier says it has taken the aircraft “for the purpose of dismantling it” in order to “increase the number of engines” of the type used by the fleet.
El Al has six 777-200ERs, all fitted with Rolls-Royce Trent 800 powerplants.
Two of these aircraft are not in service. El Al had withdrawn these two aircraft from the fleet in 2021 but it has opted to return one of them to operation.
The carrier says the refurbishment of the 777 relates to the “unavailability of aircraft in the market” with which to progress with its business strategy.
It has cancelled a previous $15 million impairment relating to the withdrawal of the aircraft.
El Al is updating other 777s, reconfiguring them with 313 seats, and could choose to extend this modification to the additional one.
It expects to take delivery of another Boeing 787-9 by the end of this year, bringing its fleet of the type to 17.
The carrier has entered an agreement with Israeli banks to finance the acquisition of this jet with a $120 million loan.
El Al airline also confirms it agreed in October to take Rolls-Royce Trent 1000 engines on additional 787s as it expands the fleet to 22 by 2030, and has also signed for two spare engines – one for delivery in November this year and another in 2028.
