| DAE Capital | DAE Group
Dubai, U.A.E., 14 December 2020 – Dubai Aerospace Enterprise (DAE) Ltd. today announced that it has delivered the first of 18 Boeing 737 MAX 8 aircraft to American Airlines as part of the Purchase and Leaseback agreement signed with American in the third quarter of this year. Delivery of the remaining aircraft is expected to be completed in the coming months.
Firoz Tarapore, Chief Executive Officer of DAE commented: “We are delighted to be in a position to offer a meaningful solution to American Airlines, a long-term customer of DAE, and to see the Boeing 737 MAX return to service. We are also pleased to further invest in these technologically advanced and fuel-efficient aircraft types in line with our commitment to environmental sustainability. The Boeing 737 MAX boasts superior fuel efficiency and reduced emissions and noise pollution, underpinning DAE’s commitment to transition its fleet to newer technology assets, reducing the environmental impact of our business and supporting DAE’s customers’ ambitions to become more sustainable operators. Our owned and committed fleet includes 22 Boeing 737 MAX 8 aircraft.”
“We’re pleased with DAE’s ability to help create a purchase and leaseback solution for these 18 aircraft,” said Meghan Montana, American’s Vice President and Treasurer. “DAE’s ability to facilitate an agreement of this size in today’s environment is a testament to their reputation and their confidence in American Airlines, and we look forward to a successful, ongoing partnership.”
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About DAE
Dubai Aerospace Enterprise (DAE) Ltd. is a globally recognized aerospace corporation with two divisions: Aircraft Leasing and Engineering. Headquartered in Dubai, DAE serves over 125 airline customers in over 60 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle.
DAE’s award-winning Aircraft Leasing division has an owned, managed, committed and mandated to manage fleet of approximately 425 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$16 billion. DAE’s Engineering division serves customers in Europe, Middle East, Africa and South Asia from its state-of-the-art facility accommodating up to 15 wide and narrow body aircraft. It is authorized to work on 13 aircraft types and has regulatory approval from over 25 regulators globally. More information can be found on the company’s web site at www.dubaiaerospace.com.
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