The Dubai Aerospace Enterprise’s newly acquired portfolio has a weighted average age of 3.4 years and a weighted average remaining lease term of 8.8 years.
Dubai Aerospace Enterprise (DAE) Ltd has signed multiple agreements to acquire 23 aircraft from various counterparties for approximately $1.1 billion. The newly acquired portfolio has a weighted average age of 3.4 years and a weighted average remaining lease term of 8.8 years. The aircraft are currently leased to 13 airlines across 9 countries. The acquisition is expected to be finalized by the end of 2024.
The portfolio is predominantly composed of narrow-body aircraft, representing 91% of the total value, with 86% of the portfolio consisting of next-generation technology aircraft.
Firoz Tarapore, Chief Executive Officer of DAE, commented, “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.”
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DAE provides leasing and financing solutions globally, including direct operating leases and sale-leaseback arrangements. The company supports over 110 airline customers in more than 60 countries, emphasizing strategic acquisitions and innovative leasing solutions.
