Dubai Aerospace Enterprise (DAE), a company specializing in aircraft leasing services, has announced the signing of two definitive agreements to sell around 75 aircraft, as part of a strategy aimed at improving the efficiency of its fleet and reducing the average age of its aircraft.
The first deal covers the sale of around 50 Embraer E-Jets to a specialist aircraft leasing company, while the second covers the sale of around 25 out-of-production aircraft to a financial investor, with DAE continuing to provide lease management and technical support services for these aircraft, according to a press release published on DAE's website.
The company said the transactions, once completed, will help reduce the average age of its owned passenger aircraft fleet, increase the average remaining lease term and improve overall fuel efficiency. After the transactions are completed, the adjusted fleet is expected to consist of 45% Boeing, 42% Airbus and 13% ATR aircraft.
For his part, DAE Chief Executive Officer Firoz Tarapore explained that these transactions are in line with the company's commitments to its customers, adding that the steps will achieve several objectives by aligning the portfolio mix with targeted aircraft types and enhancing operational efficiency.
All transactions are scheduled to be completed before the end of 2025, after obtaining the necessary regulatory approvals. DAE received legal advice on the transactions from Allen & Overy and Shearman & Sterling LLP, and financial advice from KPMG.
Dubai Aerospace Enterprise (DAE) is a global aircraft leasing company, with a fleet of about 750 owned, managed and on-order aircraft, with a total value of nearly $22 billion.
The company serves more than 200 airline customers in more than 85 countries through its offices in Dubai, Dublin, Singapore, Miami, New York and Seattle, in addition to its advanced engineering facilities in the Jordanian capital, Amman.
To view the post on the Dubai Aerospace Enterprise website, click here.
