DAE Signs Lease Agreements with Hainan Airlines for Four New Boeing 737-8 Aircraft

Firoz Tarapore, Chief Executive Officer of DAE, said, “We are pleased to further strengthen our partnership with Hainan Airlines. This agreement reflects the strong relationship we’ve developed over the years, and we value their trust in DAE as we remain committed to meeting their evolving fleet needs.

The addition of these state-of-the-art Boeing 737-8 aircraft will support Hainan Airlines’ growth and operational objectives. We wish them continued success and look forward to seeing the positive impact these aircraft will have on their expanding fleet, and to many more years of successful collaboration.”

Yu Chaojie, CEO of Hainan Airlines, said, “We appreciate DAE’s continued trust and support in Hainan Airlines. The strategic placement of these new Boeing aircraft into our fleet is an investment in our growth, and a testament to the enduring partnership we have built over time. By reducing the average age of our aircraft, the integration of these aircraft will significantly contribute to fleet modernization. We are not only enhancing our operational efficiency but also optimizing cost structure, improving fuel efficiency, and reducing maintenance costs, which are critical factors in today’s competitive aviation market.

The Boeing 737 MAX delivers enhanced efficiency, improved environmental performance, and increased passenger comfort to the single-aisle market. Powered by CFM International LEAP-1B engines and incorporating advanced technology winglets, the 737 MAX offers excellent economics. The airplane family reduces fuel use and emissions by 20% compared to jets it replaces. DAE currently owns, manages, and is committed to own a total of 500 aircraft, including 215 from Boeing, with plans to further expand its fleet to meet growing market demand.

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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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