Dubai, UAE — Dubai Aerospace Enterprise (DAE) Ltd Friday announced that it had recently signed agreements with multiple counterparties to acquire 17 aircraft for an aggregate consideration of approximately US$1 billion.
This portfolio comprises 100 percent next-generation aircraft, of which 89 percent are narrow-body aircraft. Eighty percent of the aircraft are manufactured by Airbus, and 20 percent 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 percent Airbus aircraft, 49 percent Boeing aircraft, and 5 percent ATR 72-600.
Firoz Tarapore, Chief Executive Officer of DAE, commented, “Amid ongoing orderbook delivery delays, we are continuing to source attractive assets in the secondary market to meet our growth and portfolio management targets.”
