Lessor Intrepid Aviation has taken of its aircraft ordered directly from Boeing, a 777-300ER which will be leased to and operated by Philippine Airlines.

“We are excited to accept our first new aircraft from Boeing,” said Olaf Sachau, chief executive officer of Intrepid. “This 777 delivery to Philippine Airlines underlines Intrepid’s continuous focus on investment into new aircraft on long-term leases with well-established, strong airlines worldwide.”

This is the first of four 777-300ERs Intrepid has on firm order.

“Intrepid is cementing its place as a leading widebody lessor by growing its fleet with the 777,” said John Wojick, senior vice president of global sales and marketing at Boeing Commercial Airplanes. “We appreciate their confidence in the airplane, which offers superior economics and a memorable passenger experience.”

Philippine Airlines now has seven 777-300ERs in its fleet.