The Dubai Aerospace Enterprise buys 23 Aircraft. The DAE, one of the best UAE Aviation companies yesterday confirmed that it has signed agreements to buy 23 aircraft for a combined value of US$1.1 billion.
The weighted average age of the recent portfolio of aircraft is around 3.4 years, as well as a weighted average lease term remaining of 8.8 years. These are on lease to 13 airlines in 9 countries. Furthermore, 91 percent of the aircraft are made of narrow-body aircraft in terms of value, and 86 percent of these aircraft is equipped with next-gen technology, throwing light on DAE’s commitment to sustainability and modernization in its operational practices.
“We are delighted to add this young portfolio of aircraft assets with a long remaining lease term to our fleet, and 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 nominally four percentage points on a pro-forma basis,” Firoz Tarapore, the Chief Executive Officer of Dubai Aerospace Enterprise, commented.
Source: Zawya
