Dubai Aerospace Enterprise to acquire 17 aircraft for US$1.0 Billion

This portfolio is comprised of 100% next-generation aircraft, of which 89% are narrow body aircraft. 80% of the aircraft are manufactured by Airbus and 20% are manufactured by Boeing. These 17 aircraft are on lease to 11 airlines in 10 countries.

Upon completion, these aircraft are expected to reduce DAE’s weighted average passenger fleet age to 6.9 years and increase DAE’s weighted average passenger fleet lease term remaining to 6.6 years. Additionally, on completion, DAE’s pro-forma fleet composition is expected to be 46% Airbus aircraft, 49% Boeing aircraft, and 5% ATR 72-600.

Firoz Tarapore, chief executive officer of DAE, commented: “Consistent with our commitment to improve the next generation content of our fleet and reduce the fleet average age, we are delighted to add these modern, fuel-efficient, next-generation technology assets to our portfolio. This transaction also allows us to further deepen our relationship with our global base of airline customers, and we welcome three airline customers back to DAE.

Amid ongoing order book delivery delays, we are continuing to source attractive assets in the secondary market to meet our growth and portfolio management targets.”