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JETS ON LEASE TO 15 AIRLINES

DAE announces portfolio sale of 18 aircraft

DUBAI, December 17, 2018

Dubai Aerospace Enterprise (DAE), one of the largest aircraft leasing companies in the world, has entered into a definitive sale agreement to sell a portfolio of 18 mid-life aircraft to institutional investors.

The 18 aircraft in this portfolio are on lease to 15 airlines in 13 countries and have a weighted average age of approximately nine years with a weighted average remaining lease term of 4.5 years.

The portfolio is made up of 69 per cent current generation narrow body aircraft, 24 per cent widebody aircraft, and 7 per cent ATR72-600 turboprop aircraft.  

DAE will act as portfolio servicer.

Firoz Tarapore, chief executive officer of DAE said: “We continue to build our managed aircraft portfolio. This transaction takes us one step closer to our stated goal of having $5 billion of managed aircraft assets. Investors are increasingly recognizing the value of DAE’s Aircraft Investor Services (AIS) platform and entrusting the management of their aircraft assets to us. So far, we have continued to outperform our investors’ expectations in all the portfolios we manage.”

Headquartered in Dubai, DAE’s leasing and engineering divisions serve over 125 airline customers around the world from its seven locations in Dubai, Dublin, Amman, Singapore and the US.

DAE’s award-winning leasing division DAE Capital has an owned, managed and committed fleet of approximately 365 Airbus, ATR and Boeing aircraft with a fleet value of $14 billion. – TradeArabia News Service




Tags: DAE | Dubai Aerospace Enterprise |

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