Egypt buys 9 Boeing planes in $864M deal

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EgyptAir says it has purchased nine Boeing planes in an $864 million deal mostly financed by the United Arab Emirates.

The airline said in a statement Wednesday that Dubai Aerospace Enterprise, which is partly owned by the investment arm of the Dubai government, will finance eight of the new planes. It did not provide further details.

EgyptAir chief Safwat Musallam says the "next generation 700-800s" have "an excellent reputation for reliability, performance and cost efficiency."

EgyptAir suffered a tragic loss in May when Flight 804, an Airbus A320 flying from Paris to Cairo, plunged into the Mediterranean Sea, killing all 66 people on board. The cause of the crash remains unknown.