DAE

Dubai Aerospace Enterprise (DAE)

DAE expands fleet with acquisition of ten next-generation aircraft

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

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DAE and AAT have signed a pilot training MoU

DAE signs pilot training MoU with Ansett Aviation Training (AAT)

Dubai Aerospace Enterprise (DAE) has signed a Memorandum of Understanding (MoU) with Ansett Aviation Training (AAT), the Australia headquartered global operator of pilot simulator training centres. This MoU will promote the United Arab Emirates as a leading global aviation service provider and strengthen ties between DAE and AAT by supporting each other’s customer bases and

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DAE and Turkish Airlines sign long-term lease agreements

Dubai Aerospace Enterprise (DAE) has reached an agreement with Turkish Airlines for the lease of ten new Boeing 737-8 aircraft. The aircraft are scheduled to deliver in 2025. Commenting on the agreement, Firoz Tarapore, Chief Executive Officer of DAE, said, “We are delighted to further deepen our already strong and long-term relationship with Turkish Airlines

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Dubai Aerospace Enterprise (DAE)

DAE secures US$118 million cash insurance settlement for Aeroflot-leased aircraft

Dubai Aerospace Enterprise (DAE) has successfully obtained a cash insurance settlement totalling approximately US$118 million (£93 million) for aircraft previously leased to Public Joint Stock Company “Aeroflot – Russian Airlines” (Aeroflot). The settlement amount signifies the resolution of DAE’s insurance claims under Aeroflot’s insurance and reinsurance policies, specifically pertaining to seven aircraft and their associated

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DAE

DAE reports financial results for the nine months ended September 30, 2023

Dubai Aerospace Enterprise (DAE) has reported its financial results for the nine months ended September 30, 2023. The company reported revenues of US$989.2 million, compared to US$853.9 million in 2022 and profit before tax and exceptional items of US$207.5 million, compared to US$200.6 million for the same period in 2022. In the third quarter of

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Dubai Aerospace Enterprise (DAE)

DAE announces closing of US$1.6 billion new financing facilities

Dubai Aerospace Enterprise (DAE) has signed a new multi-tranche financing, structured as a combination of revolving credit facilities and term financing facilities, each comprising of conventional and Islamic tranches with HSBC and J.P. Morgan acting as Joint Bookrunners and Joint Mandated Lead Arrangers. Following significant demand, the transaction was upsized in syndication to more than twice

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