DAE bolsters fleet with US$1 billion investment in next-generation aircraft

Dubai Aerospace Enterprise (DAE), a prominent global aviation services corporation, has signed agreements to acquire 17 aircraft for a total consideration of approximately US$1.0 billion.

The newly acquired portfolio consists entirely of next-generation aircraft, with 89% being narrow-body models. Airbus accounts for 80% of the fleet, while Boeing makes up the remaining 20%. These aircraft are currently leased to 11 airlines across ten countries.

Once the acquisitions are finalised, DAE's weighted average passenger fleet age is expected to decrease to 6.9 years, while the average remaining lease term will extend to 6.6 years. The updated fleet composition will comprise 46% Airbus aircraft, 49% Boeing aircraft, and 5% ATR 72-600 turboprops.

Firoz Tarapore, Chief Executive Officer of DAE, commented: