| DAE Capital | DAE Group
DAE to retain servicing of the portfolio
Dubai, U.A.E., 17 November 2018 – Dubai Aerospace Enterprise (DAE) Ltd. has entered into a definitive sale agreement to sell a portfolio of 18 mid-life aircraft to institutional investors. The 18 aircraft in this portfolio are on lease to 15 airlines in 13 countries and have a weighted average age of approximately 9 years with a weighted average remaining lease term of 4.5 years. The portfolio is made up of 69% current generation narrow body aircraft, 24% widebody aircraft, and 7% ATR72-600 turboprop aircraft.
DAE will act as the portfolio servicer.
Mr. Firoz Tarapore, Chief Executive Officer of DAE said: “We continue to build our managed aircraft portfolio. This transaction takes us one step closer to our stated goal of having US$5 billion of managed aircraft assets. Investors are increasingly recognizing the value of DAE’s Aircraft Investor Services (AIS) platform and entrusting the management of their aircraft assets to us. So far, we have continued to outperform our investors’ expectations in all the portfolios we manage.”
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About DAE
Dubai Aerospace Enterprise (DAE) Ltd. is a globally recognized aerospace corporation and one of the largest aircraft leasing companies in the world. Headquartered in Dubai, DAE’s leasing and engineering divisions serve over 125 airline customers around the world from its seven locations in Dubai, Dublin, Amman, Singapore and the US.
DAE’s award-winning leasing division DAE Capital has an owned, managed and committed fleet of approximately 365 Airbus, ATR and Boeing aircraft with a fleet value of US$14 billion. More information can be found on the company’s web site at www.dubaiaerospace.com.
For further information, please contact:
| Media | Fixed Income Investors |
| Arne Bevaart | Sinan Kahya |
| +971 4 428 9591 | +971 4 428 9593 |
| press.office@dubaiaerospace.com | investorrelations@dubaiaerospace.com |