Wednesday 30 October 2024
 
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Firoz Tarapore

DAE makes portfolio aircraft acquisition worth $500m

DUBAI, 1 days ago

Dubai Aerospace Enterprise (DAE) said it had recently signed an agreement to acquire 10 aircraft for an aggregate consideration of approximately $500 million.
 
The aircraft portfolio comprises 100% of narrow-body, next-generation aircraft on lease to 4 airlines in 4 countries.
 
In addition, DAE has initiated and managed the purchase and sale of equity interests in 36 managed aircraft from existing investors to new investors. These aircraft are managed for institutional investors by our Aircraft Investor Services (AIS) division, an industry leading team that supports a global investor base in managing over 100 aircraft across various investment strategies.
 
Young aircraft
Firoz Tarapore, Chief Executive Officer of DAE, commented: “We are delighted to continue adding further fuel-efficient, next-generation technology assets to our portfolio, and look forward to welcoming a new airline customer to our lessee base, as well as further deepening our relationship with another three airline customers. These young aircraft with long remaining lease terms are expected to be favourable to our portfolio’s metrics, once delivered.
 
“The capabilities of our AIS team have earned a strong reputation among investors who are increasingly willing to deploy their capital into aircraft assets and are looking for an experienced lessor partner. We are continuing to expand our footprint, managing a diverse pool of assets for multiple investors.”--TradeArabia News Service
 



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