| DAE Capital | DAE Group | Engineering
DAE Capital acquired 20 aircraft, sold 30 aircraft, signed 150 lease transactions
DAE Engineering booked over 1.4 million man-hours
Dubai, U.A.E., 3 January 2024 – Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, today announced its business transactions update for the full year 2023:
DAE Capital:
- Number of aircraft acquired: 20 (owned: 10; managed: 10)
- Number of aircraft sold: 30 (owned: 22; managed: 8)*
- Lease agreements, extensions and amendments signed: 150 (owned: 114; managed: 36)
- Fleet Size (Owned, Managed, and Committed): 493
- Customers: 123; Countries: 62
- Owned Fleet Average Age (years): 7.5
- Owned Fleet Average Lease Term Remaining (years): 6.0
- Owned Fleet Portfolio Contracted: 99.7%
- Acquired the rights, interests, and obligations of a portfolio of 64 Boeing 737 MAX aircraft in the third quarter
DAE Engineering:
- Number of man-hours booked: >1,400,000
- Number of checks performed: >300
- Customers Served: >50; Countries Served: 25
- Appointed as the Middle East’s first Boeing 737-800BCF conversion line in partnership with Boeing
- Announced the expansion of Joramco’s facilities in Amman, Jordan, which is expected to reach 22 maintenance lines in the second half of 2024
Group:
- Announced US$1.6 billion multi-tranche bank financing, consisting of both conventional and Islamic tranches; largest bank financing in DAE’s history
- Open market bond repurchases: US$400.7 million
- Morningstar Sustainalytics ESG Risk Rating: 12.5; Industry Top-Rated and Regional Top-Rated for third year running; Lowest ESG Risk Rating of any rated aircraft lessor
* Includes seven (7) aircraft subject to insurance settlement and receipt of certain settlement proceeds received in the fourth quarter of 2023.
* ENDS *
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$17 billion. DAE Engineering provides regional MRO services to customers in Europe, 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. More information can be found on the company’s web site at www.dubaiaerospace.com.
For further information, please contact:
| Media | Fixed Income Investors |
| Deion McCarthy | Deion McCarthy |
| +971 4 428 9576 | +971 4 428 9576 |
| press.office@dubaiaerospace.com | investorrelations@dubaiaerospace.com |