DAE expands fleet with acquisition of ten next-generation aircraft
Summary
Dubai Aerospace Enterprise (DAE) has signed an agreement to acquire ten narrow-body, next-generation aircraft for an aggregate consideration of approximately US$0.5 billion. This latest addition to DAEs portfolio consists entirely of aircraft currently leased to four airlines operating in four different countries. Firoz Tarapore, Chief Executive Officer of DAE stated: “We are delighted to continue adding further fuel-efficient, next-generation technology assets to our portfolio. These young aircraft, with long remaining lease terms, are expected to positively impact our portfolios metrics once delivered.” The AIS team at DAE has built a strong reputation among investors, who are increasingly keen to invest in aircraft assets and seek experienced leasing partners. Tarapore added, “We are continuing to expand our footprint, managing a diverse pool of assets for multiple investors.” All aircraft acquisitions are anticipated to close by the end of 2024.