Dubai Aerospace Enterprise (DAE) announced that it had recently signed an agreement to acquire 10 aircraft for an aggregate consideration of approximately US$0.5 billion.
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The aircraft portfolio is comprised 100% of narrow-body, next-generation aircraft on lease to 4 airlines in 4 countries.
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In addition, Dubai Aerospace Enterprise has initiated and managed the purchase and sale of equity interests in 36 managed aircraft from existing investors to new investors. These aircraft are managed for institutional investors by our Aircraft Investor Services (AIS) division, an industry-leading team that supports a global investor base in managing over 100 aircraft across various investment strategies.
Firoz Tarapore, Chief Executive Officer of DAE commented: “We are delighted to continue adding further fuel-efficient, next-generation technology assets to our portfolio, and look forward to welcoming a new airline customer to our lessee base, as well as further deepening our relationship with another three airline customers. These young aircraft with long remaining lease terms are expected to be favorable to our portfolio’s metrics, once delivered.
The capabilities of our AIS team have earned a strong reputation among investors who are increasingly willing to deploy their capital into aircraft assets and are looking for an experienced lessor partner. We are continuing to expand our footprint, managing a diverse pool of assets for multiple investors.”
All aircraft are expected to close by the end of 2024.
About DAE
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aviation services corporation with two divisions: DAE Capital and DAE Engineering. Headquartered in Dubai, DAE serves over 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York, and Seattle.
DAE Capital is an award-winning aircraft lessor with an owned, managed, and committed fleet of approximately 500 Airbus, ATR, and Boeing aircraft with a fleet value of US$18 billion. DAE Engineering provides regional MRO services to customers in Europe, the Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 17 wide and narrow-body aircraft. It is authorized to work on 15 aircraft types and has regulatory approval from over 25 regulators globally.
