DAE to sell 18 mid-life aircraft

DUBAI / WAM

Dubai Aerospace Enterprise (DAE) entered into a definitive sale agreement to sell a portfolio of 18 mid-life aircraft to institutional investors. The 18 aircraft in this portfolio are on lease to 15 airlines in 13 countries and have a weighted average age of approximately nine years with a weighted average remaining lease term of 4.5 years.
The portfolio is made up of 69 percent current generation narrow body aircraft, 24 percent wide body aircraft, and seven percent ATR72-600 turboprop aircraft.
Firoz Tarapore, CEO of DAE, said, “We continue to build our managed aircraft portfolio. This transaction takes us one step closer to our stated goal of having $5 billion of managed aircraft assets. Investors are increasingly recognising the value of DAE’s Aircraft Investor Services platform and entrusting the management of their aircraft assets to us.”