Dubai Aerospace Enterprise (DAE) has announced agreements to acquire 23 aircraft from multiple counterparties for a total of approximately US$1.1 billion.
The consolidated aircraft portfolio will have a weighted average age of 3.4 years and a weighted average remaining lease term of 8.8 years. These aircraft are leased to 13 airlines across nine countries. The portfolio is composed of 91% narrow-body aircraft by value, with 86% featuring next-generation technology.
Firoz Tarapore, Chief Executive Officer of DAE, stated, “We are delighted to add this young portfolio of aircraft assets with a long remaining lease term to our fleet. As part of these transactions, we welcome six new airline customers to our globally diverse customer base. Following the induction of these aircraft, our next-generation fuel-efficient fleet composition is expected to improve by approximately four percentage points on a pro-forma basis.”
All aircraft acquisitions are expected to be finalised by the end of 2024.
DAE, headquartered in Dubai, is one of the world’s largest aircraft leasing companies, managing a fleet of over 425 aircraft. The company provides leasing and financing solutions to airlines worldwide, offering both direct operating leases and sale-leaseback arrangements. With a strong presence in the Middle East and a global reach, DAE serves over 110 airline customers in more than 60 countries. The company is known for its strategic acquisitions, innovative leasing solutions and commitment to sustainability, with a focus on maintaining a modern, fuel-efficient fleet.
