The leasing division of Dubai Aerospace Enterprise (DAE) Ltd. has sealed three agreements to sell 16 aircraft with a total market value of approximately US$900 million to as-yet-unnamed buyers.
The aircraft covered by these agreements include Boeing 737 and Airbus A320, A330 and A350 family aircraft, have an average age of two years and are currently on lease to 11 airlines in 11 countries. The leasing division, DAE Capital, expects to close these agreements in the second half of this year.
Firoz Tarapore, chief executive officer of Dubai-headquartered DAE, said the divestment activity “will help us optimise our portfolio composition and monetise some of our recent larger-scale investments. This transaction does not impact our total number of customers. Proceeds will be used to pay down debt and reinvested to support our ambitious growth plans. Proactively managing our portfolio through active trading is a critical component of our long-term portfolio strategy and it is important for us to remain relevant in all segments of the secondary market for aircraft sales.”
DAE Capital has an owned, managed and committed fleet of nearly 400 Airbus, ATR and Boeing aircraft with a fleet value of $14 billion.
