DAE Signs Deal to Acquire 17 Aircraft for US $1 Billion

Post by: Layla Badr

Photo: Dubai Government Media Office

Dubai Aerospace Enterprise (DAE) Ltd, a global aviation services company, recently announced that it has signed agreements with several partners to acquire 17 aircraft. The total value of these aircraft is about $1.0 billion.

All 17 aircraft in this deal are the latest generation models, with 89% being narrow-body planes. Of these, 80% are made by Airbus, and 20% are made by Boeing. These planes are currently leased to 11 different airlines in 10 countries.

Once this deal is complete, DAE’s overall passenger fleet will have a reduced average age of just 6.9 years. The average remaining lease term for DAE's aircraft will increase to 6.6 years. DAE’s fleet will also be made up of 46% Airbus planes, 49% Boeing planes, and 5% ATR 72-600 aircraft.

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Firoz Tarapore, the CEO of DAE, said, “We are happy to add these new, fuel-efficient aircraft to our fleet, as they help us lower the average age of our planes. This deal also strengthens our relationships with our airline customers, including welcoming three airlines back to DAE.”

Despite some delays in receiving new orders, DAE continues to look for good deals in the secondary market to grow and manage its fleet.

The A320 Family of aircraft, made by Airbus, is the most popular single-aisle aircraft in the world. It has received more than 18,000 orders from over 300 customers worldwide. The A321neo is the largest version of this family, offering better range, performance, and fuel savings. It also produces less noise and reduces carbon emissions by at least 20% compared to older models. The A321neo is also designed for maximum passenger comfort with the widest single-aisle cabin.

The Boeing 737 MAX family of planes is known for its better efficiency, environmental performance, and passenger comfort. With new winglets and engines, the 737 MAX cuts down fuel usage and emissions by 20%. It also creates a smaller noise footprint and reduces maintenance costs by 14% compared to other planes in its class.

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