Dubai Aerospace Enterprise (DAE) has received cash proceeds totalling approximately US$201 million over the past three months from settlements with selected insurance companies. These settlements pertain to aircraft that were previously leased to airline carriers in the Russian Federation. Following these settlements, DAE and its relevant affiliated entities have released their claims against the involved insurance and reinsurance companies.
To date, DAE has received cumulative cash proceeds of US$319 million. This includes a 2023 settlement with certain parties relating to seven aircraft.
DAE stated that it will continue to actively pursue litigation in the English courts under its own insurance policies. Additionally, the company will maintain its efforts to mitigate losses related to its aircraft formerly leased to Russian airlines.
Dubai Aerospace Enterprise is a globally recognised aviation services company operating through two divisions: DAE Capital and DAE Engineering. Headquartered in Dubai, the organisation supports over 170 airline customers across more than 65 countries, with offices in Dubai, Dublin, Amman, Singapore, Miami, New York, and Seattle.
