DAE substantially completes Boeing 737 MAX 8 transaction with American Airlines

Arabic version

Dubai, U.A.E., 22 March 2021 – Dubai Aerospace Enterprise (DAE) Ltd. today announced it had substantially completed the agreement with American Airlines signed in the third quarter of 2020 to deliver 18 new Boeing 737 MAX 8 aircraft.

Firoz Tarapore, Chief Executive Officer of DAE said: “This transaction reflects our agility, our balance sheet strength, our underwriting capability, our ability to assist one of our long-term customers and our belief in the product strength of the 737 MAX 8 aircraft. We are delighted to see an increasing number of global aviation regulators return the MAX to the skies. We wish American and Boeing great success.”

Ihssane Mounir, Senior Vice President of Commercial Sales and Marketing of The Boeing Company, added: “DAE is putting their purchasing strategy and growth plan in action and helping operators during this challenging time in our industry. We are delighted to once again partner with DAE to support a valued customer such as American Airlines and we are honored by their trust and confidence in the Boeing 737 family.”

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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 170 airline customers in over 65 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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