DAE to acquire 23 aircraft in US$1.1 billion deal

Dubai Aerospace Enterprise (DAE) has announced agreements to acquire 23 aircraft from multiple counterparties for a total of approximately US$1.1 billion.

The consolidated aircraft portfolio will have a weighted average age of 3.4 years and a weighted average remaining lease term of 8.8 years. These aircraft are leased to 13 airlines across nine countries. The portfolio is composed of 91% narrow-body aircraft by value, with 86% featuring next-generation technology.

Firoz Tarapore, Chief Executive Officer of DAE, stated,