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 […]
DAE to acquire 23 aircraft in US$1.1 billion deal Read More »
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
DAE signs pilot training MoU with Ansett Aviation Training (AAT) Read More »
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
DAE and Turkish Airlines sign long-term lease agreements Read More »
Dubai Aerospace Enterprise (DAE) has signed an agreement with FLY91 for the lease of two ATR 72-600 aircraft. These planes are set to be delivered in 2024 and will mark the initial additions to FLY91’s fleet. FLY91, a regional carrier, aims to improve air connectivity from smaller towns in India, specifically tier 2 and tier
DAE leases two ATR 72-600s to Indian carrier FLY91 Read More »
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
DAE secures US$118 million cash insurance settlement for Aeroflot-leased aircraft Read More »
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
DAE reports financial results for the nine months ended September 30, 2023 Read More »
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
DAE announces closing of US$1.6 billion new financing facilities Read More »
Joramco, the MRO facility and engineering arm of Dubai Aerospace Enterprise (DAE), has named Petra Lindemann as the new Vice President of Supply Chain. With nearly two decades of experience, Lindemann is an aviation professional who brings a wealth of expertise to the table. Throughout her career, Lindemann has held leadership roles. At Swiss International
Joramco names new Vice President of Supply Chain Read More »
Dubai Aerospace Enterprise (DAE) and its subsidiaries have reported financial results for the six months ended June 30, 2023. Profit for the six months was US$141.1 million compared to a profit before exceptional items of US$140.1 million for the six months ended June 30, 2022. Operating profit increased by US$65.0 million to US$319.8 million compared
DAE posts profit increase before tax of 13% Read More »
