Finance & Capital Market

DAE delivers, commits to $1.1bn in aircraft assets in H1

Dubai Aerospace Enterprise, one of the largest aircraft leasing companies in the world, said its leasing division DAE Capital delivered and committed to deliver over $1.1 billion in aircraft assets during the first half (H1) of the year.

Strategic and operational highlights:

•    Grew managed assets portfolio to 51 aircraft valued at $1.3 billion
•    Boosted liquidity by adding a new $440 million revolving credit facility
•    Increased Unsecured Debt-To-Total Debt ratio to nearly 60 per cent
•    Repurchased shares held by EMAAR – now 100 per cent owned by ICD

Operational metrics:

•    Owned, managed and committed aircraft in fleet: 357
•    Customers: 110; Countries: 56
•    Portfolio Utilization: 99.2 per cent
•    New aircraft purchased: 8
•    Aircraft assets sold: 20
•    Lease transactions completed: 24
•    Average age of owned fleet: 5.9 years
•    Average lease term remaining on owned fleet: 6.4 years – TradeArabia News Service