Dubai Aerospace Enterprise (DAE) has signed agreements to acquire 17 aircraft for approximately $1 billion. The portfolio consists entirely of next-generation models, with 89% being narrow-body aircraft. Eighty percent are manufactured by Airbus, and 20% by Boeing. These aircraft are currently leased to 11 airlines across 10 countries.
Upon completion, this acquisition is expected to reduce DAE’s weighted average passenger fleet age to 6.9 years and increase the average remaining lease term to 6.6 years. The company’s fleet composition will then be 46% Airbus, 49% Boeing, and 5% ATR 72-600 aircraft.
Firoz Tarapore, DAE’s Chief Executive Officer, 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.”
