On Friday, AerCap Holdings N.V. ( AER ) announced that it has entered into a sale and leaseback agreement with TAAG Angola Airlines for one new Boeing Company ( BA ) 787-9 aircraft.

The aircraft is set to be delivered to TAAG in February 2025 as part of the airline's ongoing fleet modernization efforts.

This transaction marks a significant milestone, as AerCap ( AER ) becomes the first lessor to introduce the Boeing 787 to TAAG.

Aengus Kelly, CEO of AerCap ( AER ), expressed enthusiasm about the new partnership, highlighting that the 787-9 will help TAAG expand its network across Africa, Europe, and Asia with one of the most fuel-efficient widebody aircraft available.

"As part of their fleet modernization program, the 787 will enable TAAG expand their network across Africa, Europe and Asia with one of the most fuel-efficient widebody aircraft on the market and support them in meeting customer demand," said Kelly.

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The aircraft's advanced technology and efficiency will support TAAG's growth and improve its ability to meet increasing customer demand.

The introduction of the Boeing 787-9 will also help TAAG optimize operational costs while offering greener environmental mobility solutions.

Earlier in December, AerCap ( AER ) signed lease agreements for two Boeing 737-800 aircraft. Mukamalah Aviation Company, a subsidiary of Aramco, will operate the aircraft to transport Aramco Group passengers in Saudi Arabia.

This further underscores AerCap's ( AER ) expanding presence in the aviation leasing market.

Price Action: AER shares are trading lower by 0.31% to $95.17 at the last check on Friday.

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