Dubai Aerospace Enterprise Sells 75 Aircraft in Strategic Portfolio Shift
Dubai Aerospace Enterprise (DAE) has signed agreements to sell approximately 75 aircraft in a move aimed at streamlining its fleet and enhancing operational efficiency, the company announced on Wednesday.
The sale includes about 50 Embraer E-JETS to a specialist lessor and around 25 out-of-production aircraft to a financial investor. While financial terms were not disclosed, the agreements reflect DAE's continued strategy to optimize its asset portfolio.
As part of the transaction, DAE will also provide lease, asset, and technical management services for the out-of-production aircraft sold to the financial investor. The deals are expected to reduce the average age of DAE's passenger fleet and extend the remaining lease terms, improving the overall efficiency and stability of the company's aircraft portfolio. 'These transactions will achieve multiple objectives by aligning our portfolio composition with our stated target aircraft types,'
said Firoz Tarapore, CEO of DAE. 'They enhance the overall fuel efficiency, age profile, and remaining lease term characteristics of the portfolio.'
Completion of the transactions remains subject to regulatory approvals and customary closing conditions.
DAE, a leading global aviation services company headquartered in Dubai, continues to position itself for long-term growth amid evolving market demands and a shifting industry focus on younger, more fuel-efficient fleets.
News Source: Emirates News Agency
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
Dubai Aerospace signs $300mln 3-year term loan
Dubai Aerospace Enterprise Ltd. has signed a $300 million three-year unsecured term loan with Bank of China (Dubai) Branch, Bank of China Limited, London Branch and Bank of China (Hong Kong) Limited. The aircraft lessor, which is fully owned by Investment Corporation of Dubai, will use the loan for general corporate purposes and future financing needs of the business. Firoz Tarapore, CEO of DAE, said the transaction with BOC 'provides us with additional liquidity to support our ongoing commitment to meeting the needs of our airline customers while maintaining a modern and efficient fleet'. In March 2024, DAE signed $420 million 5-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited. As of March 31, 2025, the company had a total debt of $8 billion, of which 80% was unsecured. Net debt-to-equity ratio was 2.43x. (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
an hour ago
- Zawya
DAE signs US$300mln 3-year unsecured term loan
Dubai, U.A.E. – Dubai Aerospace Enterprise (DAE) Ltd ('DAE'), the global aviation services company, today announced that it has signed a US$300 million 3-year unsecured term loan with Bank of China (Dubai) Branch, Bank of China Limited, London Branch and Bank of China (Hong Kong) Limited ('BOC'). The loan will be used for general corporate purposes and will support the future financing needs of the business. Firoz Tarapore, Chief Executive Officer of DAE, commented, 'This transaction with BOC provides us with additional liquidity to support our ongoing commitment to meeting the needs of our airline customers while maintaining a modern and efficient fleet. We are pleased to deepen our relationship with Bank of China and look forward to continuing our collaboration with the entire Bank of China group in the years ahead.' Pan Xinyuan, General Manager of Bank of China (Dubai) Branch, said: 'Bank of China values its growing relationship with DAE and is pleased to support this strategic financing. The successful execution of this transaction reflects the strength of our global network and our ability to deliver tailored solutions that meet the evolving needs of our clients across the aviation sector. In the future, Bank of China will continue to contribute to deepening China-UAE relations and support the development of UAE enterprises.' 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 85 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, Embraer, and Boeing 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. More information can be found on the company's website at
Hi Dubai
4 hours ago
- Hi Dubai
OPEC+ to Cut Oil Production by 411,000 Barrels Per Day in July 2025
Eight OPEC+ member countries, including Saudi Arabia, Russia, and the UAE, will modestly increase oil production by 411,000 barrels per day in July 2025, citing stable global economic conditions and strong market fundamentals. The decision follows a virtual meeting held on 31 May 2025, where the group reviewed market trends and reaffirmed their gradual return strategy for the 2.2 million barrels per day of voluntary cuts announced in 2023. The move aligns with the plan agreed upon on 5 December 2024 to begin phased adjustments starting April 2025. The July increase marks the third step in a scheduled series of monthly hikes. However, OPEC+ emphasized that the pace of adjustments remains flexible and could be paused or reversed based on market shifts. This approach, the group noted, aims to uphold market stability while allowing time to compensate for past overproduction. The participating countries—Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman—reiterated their commitment to the Declaration of Cooperation and pledged full compliance with production targets. They also reaffirmed their intention to offset any excess output since January 2024. Monthly reviews will continue, with the next meeting set for 6 July 2025 to determine August output levels. News Source: Emirates News Agency
