Dubai Aerospace Enterprise (DAE) has announced its second quarter 2018 key strategic and operational highlights for its leasing arm DAE Capital.
DAE has delivered the first of five Boeing 737 MAX 8 aircraft to GOL and delivered the first two of five new Boeing 787-9 Dreamliners to Gulf Air. The company announced the sale of 16 aircraft portfolio valued at approximately US$900 million agreed with three counterparties and has signed a landmark unsecured revolving credit facility with conventional and Islamic tranches of up to US$800 million. Furthermore, DAE has appointed David Houlihan to the newly created role of President, DAE Capital.
DAE has purchased 9 new aircraft during the second quarter and completed 26 leasing transactions. The number of owned, managed and committed aircraft in its fleet is 375 aircraft at the end of the second quarter. At present DAE has 110 customers in 56 countries and a portfolio utilization of 99.7%. The average age of its owned fleet is 5.74 years and the average lease term remaining on its owned fleet is 5.72 years.
