| DAE Capital | DAE Group
Dubai, U.A.E., 28 August 2024 – Dubai Aerospace Enterprise (DAE) Ltd (“DAE”) today announced that it had recently signed agreements to acquire 23 aircraft from multiple counterparties for an aggregate consideration of approximately US$1.1 billion.
When consolidated, the aircraft portfolio has a weighted average age of 3.4 years, a weighted average lease term remaining of 8.8 years and is on lease to 13 airlines in 9 countries. On a consolidated basis, the portfolio consists of 91% of narrow body aircraft by value, and 86% of the portfolio is next generation technology aircraft.
Firoz Tarapore, Chief Executive Officer of DAE, commented: “We are delighted to add this young portfolio of aircraft assets with a long remaining lease term to our fleet, and as part of these transactions, we welcome six new airline customers to our globally diverse customer base. Following the induction of these aircraft, our next generation fuel efficient fleet composition is expected to improve by nominally four percentage points on a pro-forma basis.”
All aircraft are expected to close by the end of 2024.
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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, 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.
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