Latest news with #DAE
Mid East Info
3 days ago
- Business
- Mid East Info
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.
AsiaOne
3 days ago
- Business
- AsiaOne
Poly grad hopes to solve food delivery spillage problem with innovative GRIPBox, Singapore News
In 2022, she got a D7 for Mathematics for her O-level exam. Three years later, Nallathambi Kavya is not only a fresh poly graduate but a founder of a start-up named GRIP, which aims to solve the woes of food delivery riders. The product, GRIPBox, is a storage box which helps to solve the problem of spillage. It is now in the testing stage and Kavya, 20, is still collecting feedback from delivery riders before she refines the product again. "People say (GRIPBox) is very practical, easy to use and innovative," she told AsiaOne. This achievement is a world away when she failed her O-level Math because she and her family tested positive for Covid-19 on the day of the exam, causing her to miss it. The poor Math score meant she could not apply to study an engineering-related course in a polytechnic via the Joint Admissions Exercise (JAE). Undeterred, Kavya, who told AsiaOne she wanted to pursue engineering "no matter what", focused on securing a place in polytechnic through the Direct Admissions Exercise (DAE), and was accepted into Republic Polytechnic's (RP) Common Engineering diploma programme. The DAE allows students with ineligible qualifications under the JAE and Early Admissions Exercise to apply directly to a polytechnic for admission. "I'm very grateful for (being able to enroll) because when I received my O-level results, I really thought that I couldn't make it into poly at all," she said. Students enrolled in a Common programme have up to a year to decide on a specific diploma, and Kavya successfully transferred to the Diploma in Engineering Design with Business course after one semester. She told AsiaOne that her journey as an entrepreneur started when a classmate who worked as a part-time delivery rider complained about his job struggles, which inspired her group to zero in on exploring storage options for motorcyclists as their final-year project. After completing the project, Kavya continued developing the idea and decided to focus on a target audience of food delivery riders. Unlike many of her peers who took on internships, she chose the alternative five-month entrepreneurship programme by RP, which allows students to develop their business ideas. The "solopreneur" wanted to first tackle the "common" and "relevant" issue of food spillage, leading her to create GRIPBox. The insulated box is supported by a frame and split horizontally into two by a removeable compartment. The bottom section features six stretchable velcro straps designed to hold takeaway cups, while the netting at the bottom is for containers holding liquids such as soup. Other packaged foods can be placed on the top section. Users can also utilise an S-hook to hook items on the frame, if desired. Kavya revealed that her biggest challenge during the five months was managing time. "It's not like a nine to five internship where after five, you have your own time. As a as a business owner, you're on call like 24/7, you need to be up and going." But she added that she had a strong support system made up of friends and family, as well as her mentors who would check in on her and give advice. Kavya also explained that the cost of the box depends on whether she adds or removes any features in the refining process, but she will keep it as affordable as possible. Currently, she is waiting for the results of her university applications, hoping to pursue a degree in Business Administration. She is also working on other products that will aid food delivery riders and hopes to launch GRIPBox by the end of 2025. [[nid:717751]]
Hi Dubai
3 days ago
- Business
- Hi Dubai
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
Khaleej Times
3 days ago
- Business
- Khaleej Times
Dubai Aerospace Enterprise sells 75 aircraft, focuses on modern, fuel-efficient fleet
Dubai Aerospace Enterprise (DAE) Ltd, a leading global aviation services company, has finalised agreements to sell approximately 75 aircraft to two counterparties, marking a significant step in optimising its fleet. The deals, announced on May 28, 2025, involve a mix of aircraft types and are expected to enhance the efficiency and youth of DAE's portfolio, though financial terms remain undisclosed. The first transaction involves the sale of around 50 Embraer E-JETS to a specialist aircraft lessor. The second deal includes approximately 25 out-of-production aircraft sold to a financial investor, with DAE providing lease, asset, and technical management services. These transactions align with DAE's strategy to streamline its fleet by focusing on newer, more fuel-efficient aircraft, reducing the weighted average age of its passenger fleet while extending the average remaining lease term. Upon completion, DAE's pro forma fleet will consist of 45 per cent Boeing aircraft, 42 per cent Airbus aircraft, and 13 per cent ATR aircraft. This shift reflects DAE's commitment to modernising its portfolio, prioritising aircraft types that meet current market demands for efficiency and sustainability. Addressing rising fuel costs and environmental concerns The aviation industry has increasingly emphasised fuel-efficient fleets to address rising fuel costs and environmental concerns, with global aircraft leasing markets projected to grow by 4.5 per cent annually through 2030, according to recent industry reports. Firoz Tarapore, DAE's CEO, emphasized the strategic importance of the deals, "These transactions align our portfolio with our target aircraft types, improving fuel efficiency, reducing fleet age, and extending lease terms. They reflect our commitment to delivering value to stakeholders while adapting to evolving market needs." The transactions are subject to regulatory approvals and customary closing conditions, with completion expected before the end of 2025. DAE was advised by Allen Overy Shearman Sterling LLP and KPMG, ensuring robust legal and financial oversight. This move comes as the aviation leasing sector navigates post-pandemic recovery and geopolitical challenges. Demand for newer aircraft models remains strong, driven by airlines' need to replace aging fleets amid stricter emissions regulations. Aviation industry expert Manoj K. John, founder and CEO of Aero Connections, said DAE's proactive portfolio management positions it to capitalise on these trends, reinforcing its role as a key player in the global aviation market. "With a fleet valued at over $14 billion, DAE continues to strengthen its position through strategic divestitures and investments in next-generation aircraft," he said.
Zawya
4 days ago
- Business
- Zawya
Dubai Aerospace Enterprise signs agreements to sell 75 aircraft
Dubai Aerospace Enterprise (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. The aircraft include: • 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, the conmpany said. 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 on the deals. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
