DAE Signs Definitive Agreements to Sell Approximately 75 Aircraft - Middle East Business News and Information
Dubai Aerospace Enterprise DAE Ltd 'DAE', the global aviation services corporation, announced that it had recently signed agreements with two counterparties to sell approximately 75 aircraft. Terms of the transactions were not disclosed. A portfolio of approximately 50 Embraer E-JETS to be sold to a specialist lessor
A portfolio of approximately 25 out-of-production aircraft to be sold to a financial investor with lease, asset and technical management services provided by DAE
Upon completion, the transactions announced today will reduce the weighted average age and increase the weighted average remaining lease term of DAE's passenger fleet. Upon completion, DAE's pro forma fleet composition is expected to be 45% Boeing aircraft, 42% Airbus aircraft and 13% ATR aircraft.
Certain transactions are subject to the receipt of regulatory approvals and other customary closing conditions. All transactions are expected to close before year-end 2025.
Firoz Tarapore, Chief Executive Officer of DAE, commented: 'Consistent with ongoing commitments to our stakeholders, these transactions will achieve multiple objectives by aligning our portfolio composition with our stated target aircraft types, and enhancing the overall fuel efficiency, age profile and remaining lease term characteristics of the portfolio.'
DAE was advised by Allen Overy Shearman Sterling LLP and KPMG.
Forward Looking Statements:
Certain information contained in this Press Release may constitute 'forward-looking statements' which can be identified by the use of forward-looking terminology such as 'may', 'will', 'should', 'could', 'continue', 'expect', 'anticipate', 'predict', 'project', 'plan', 'estimate', 'budget', 'assume', 'potential', 'future', 'intend' or 'believe' or the negatives thereof or other comparable terminology. These statements reflect DAE's current expectations and assumptions and involve known and unknown risks regarding future events, results or outcomes and are not guarantees of future results or financial condition. Actual results, performance, achievements, or conditions may differ materially from those in the forward‐looking statements and assumptions as a result of a number of factors, many of which are beyond DAE's control.
About DAE:
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aviation services corporation with two divisions: DAE Capital and DAE Engineering. Headquartered in Dubai, DAE serves over 200 airline customers in over 80 countries from its eight office locations in Dubai, Dublin, Limerick, Amman, Singapore, Miami, New York, and Seattle.
DAE Capital is an award-winning aircraft lessor with an owned, managed, and committed fleet of approximately 750 Airbus, ATR, Boeing, and Embraer aircraft with a fleet value of US$22 billion. DAE Engineering provides regional MRO services to customers in Europe, Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 17 wide and narrow body aircraft. It is authorized to work on 15 aircraft types and has regulatory approval from over 25 regulators globally.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CairoScene
19 hours ago
- CairoScene
Egypt's VCs Unite on First Standard Reporting with MSMEDA Backing
For the first time globally, all venture funds in a single market have aligned to set best practices and unify reporting standards. Jun 01, 2025 In a first-of-its-kind move around the globe, Egypt's top venture capital firms have aligned to adopt a unified platform for portfolio company reporting. Spearheaded by Foundation Ventures in collaboration with MSMEDA and the World Bank, the initiative includes Algebra Ventures, Camel Ventures, Sawari Ventures, Shorooq Partners, and others, marking the first time an entire VC ecosystem in one country has agreed on standardised metrics and reporting practices. The initiative aims to streamline data collection and improve transparency across the startup ecosystem, addressing long-standing inefficiencies in how performance is tracked and communicated. This effort is intended to build consistency in reporting and create a shared language between startups, investors, and stakeholders. 'This initiative sets a precedent for emerging markets globally,' Mazen Nadim, Managing Partner of Foundation Ventures, tells StartUpScene. 'We are excited about enhancing Egypt's investment attractiveness by providing the necessary transparency to encourage foreign direct investment as well as more opportunities for local startups to access capital.' US-based platform was selected by all participating General Partners following a rigorous evaluation process, with implementation expected by mid-2025.
Egypt Independent
a day ago
- Egypt Independent
Marine ambulance service inauguration among PM's key activities this week
CAIRO, May 30 (MENA) – The cabinet's media center published Friday infographics on social media, highlighting the key activities of Prime Minister Mostafa Madbouly during the current week. The premier's busy agenda included meetings, visits, tours, and inaugurations of national projects. The infographics showcased the prime minister's participation in the celebration of the 123rd anniversary of the launch of ambulance service in Egypt, during which he announced the inauguration of maritime ambulance service for the first time. It was noted that there has been significant recent attention given to the ambulance system, culminating in the signing of the largest deal for ambulance vehicles with 1,000 units in a single batch. He also conducted an inspection tour to follow up on the implementation status of several housing and utilities projects in the cities of 6th of October, Sheikh Zayed, and New October and handed over housing contracts as part of the presidential initiative 'Housing for All Egyptians' in New October. The prime minister participated in the opening session of the 2025 US-Egypt Policy Leaders Forum, noting that more than 1,800 American companies operate in Egypt, with total investments exceeding $47 billion over the past two decades. Madbouly also met with the Vice President of ExxonMobil for Exploration Affairs to review the status of the 'Cairo' and 'Masry' natural gas concession areas in the Mediterranean, directing that procedures be facilitated to accelerate drilling operations. In a meeting with the Awqaf minister, several work files were reviewed. The premier directed a comprehensive, digitized inventory of the Awqaf Authority's properties. The meeting also addressed the results of the 'Return of the Kuttab' initiative, the launch of the 'Electronic Endowments Platform,' and the progress of the 'Correct Your Concepts' initiative. The prime minister also reviewed the progress of the subsidy system and its governance measures, including the issuance of a unified card to around 42,000 beneficiaries out of 171,000 subsidy cardholders in Port Said. He met with the head of the Suez Canal Economic Zone (SCZone) to review recently contracted projects. These included a $17 million investment by China's Hightex Company and a $60 million investment by China's Kinlead Innovative Materials Company, in addition to the signing of four commercial contracts to export ductile pipes for major international projects in several Arab countries, totaling $47 million. The prime minister also received a delegation from Samsung, headed by the CFO of the company's Middle East regional headquarters. It was noted that Samsung's factory in Beni Suef is its first in the Middle East and Africa, with an annual production capacity of 6 million units and $700 million in investments. He attended the 120th anniversary celebration of the founding of the Heliopolis Company for Housing and Development and inaugurated the renovation and development works at the Granada Palace. He also witnessed the signing of a partnership between the Holding Company for Pharmaceuticals and the American company 'Dawah Pharma' to manufacture and export pharmaceuticals and dietary supplements to global markets. The partnership includes plans to expand the holding company's exports and enter the US market for the first time. The infographics also included a meeting to review proposals aimed at reducing debt as a percentage of the gross domestic product. The premier emphasized continued efforts to boost the country's foreign currency reserves from various sources. Finally, the prime minister inaugurated the new headquarters of the Consumer Protection Agency in New Cairo. His activities also included an inspection tour of several ongoing projects in the Capital Gardens City. (MENA)
Middle East
a day ago
- Middle East
OPEN// Marine ambulance service inauguration among PM's key activities this week
CAIRO, May 30 (MENA) - The cabinet's media center published Friday infographics on social media, highlighting the key activities of Prime Minister Dr. Mostafa Madbouly during the current week. The premier's busy agenda included meetings, visits, tours, and inaugurations of national projects. The infographics showcased the prime minister's participation in the celebration of the 123rd anniversary of the launch of ambulance service in Egypt, during which he announced the inauguration of maritime ambulance service for the first time. It was noted that there has been significant recent attention given to the ambulance system, culminating in the signing of the largest deal for ambulance vehicles with 1,000 units in a single batch. He also conducted an inspection tour to follow up on the implementation status of several housing and utilities projects in the cities of 6th of October, Sheikh Zayed, and New October and handed over housing contracts as part of the presidential initiative "Housing for All Egyptians" in New October. The prime minister participated in the opening session of the 2025 US-Egypt Policy Leaders Forum, noting that more than 1,800 American companies operate in Egypt, with total investments exceeding $47 billion over the past two decades. Madbouly also met with the Vice President of ExxonMobil for Exploration Affairs to review the status of the "Cairo" and "Masry" natural gas concession areas in the Mediterranean, directing that procedures be facilitated to accelerate drilling operations. In a meeting with the Awqaf minister, several work files were reviewed. The premier directed a comprehensive, digitized inventory of the Awqaf Authority's properties. The meeting also addressed the results of the 'Return of the Kuttab' initiative, the launch of the 'Electronic Endowments Platform,' and the progress of the 'Correct Your Concepts' initiative. The prime minister also reviewed the progress of the subsidy system and its governance measures, including the issuance of a unified card to around 42,000 beneficiaries out of 171,000 subsidy cardholders in Port Said. He met with the head of the Suez Canal Economic Zone (SCZone) to review recently contracted projects. These included a $17 million investment by China's Hightex Company and a $60 million investment by China's Kinlead Innovative Materials Company, in addition to the signing of four commercial contracts to export ductile pipes for major international projects in several Arab countries, totaling $47 million. The prime minister also received a delegation from Samsung, headed by the CFO of the company's Middle East regional headquarters. It was noted that Samsung's factory in Beni Suef is its first in the Middle East and Africa, with an annual production capacity of 6 million units and $700 million in investments. He attended the 120th anniversary celebration of the founding of the Heliopolis Company for Housing and Development and inaugurated the renovation and development works at the Granada Palace. He also witnessed the signing of a partnership between the Holding Company for Pharmaceuticals and the American company "Dawah Pharma" to manufacture and export pharmaceuticals and dietary supplements to global markets. The partnership includes plans to expand the holding company's exports and enter the US market for the first time. The infographics also included a meeting to review proposals aimed at reducing debt as a percentage of the gross domestic product. The premier emphasized continued efforts to boost the country's foreign currency reserves from various sources. Finally, the prime minister inaugurated the new headquarters of the Consumer Protection Agency in New Cairo. His activities also included an inspection tour of several ongoing projects in the Capital Gardens City. (MENA) Y R E/R G E
