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Mid East Info
28-05-2025
- 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.
28-05-2025
- Business
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
