Dubai Aerospace Enterprise (DAE) has signed an agreement to acquire ten narrow-body, next-generation aircraft for an aggregate consideration of approximately US$0.5 billion. This latest addition to DAE’s portfolio consists entirely of aircraft currently leased to four airlines operating in four different countries.
In conjunction with this acquisition, DAE has also facilitated the purchase and sale of equity interests in 36 managed aircraft, transitioning these assets from existing investors to new investors. This process is overseen by DAE’s Aircraft Investor Services (AIS) division, a leading team in the industry that supports a global investor base in managing over 100 aircraft across various investment strategies.
Firoz Tarapore, Chief Executive Officer of DAE stated: “We are delighted to continue adding further fuel-efficient, next-generation technology assets to our portfolio. We look forward to welcoming a new airline customer to our lessee base, while also deepening our relationships with three existing airline customers. These young aircraft, with long remaining lease terms, are expected to positively impact our portfolio’s metrics once delivered.”
The AIS team at DAE has built a strong reputation among investors, who are increasingly keen to invest in aircraft assets and seek experienced leasing partners. Tarapore added, “We are continuing to expand our footprint, managing a diverse pool of assets for multiple investors.”
All aircraft acquisitions are anticipated to close by the end of 2024.
