Dubai Aerospace Enterprise Finalizes Agreements for Sale of 75 Aircraft
The deals involve a mix of Embraer E-JETS and other aircraft, enhancing the company’s portfolio and operational efficiency.
Dubai Aerospace Enterprise (DAE) has announced the finalization of agreements with two parties for the sale of approximately 75 aircraft.
Specific terms of these transactions have not been disclosed.
The aircraft portfolio includes around 50 Embraer E-JETS, which will be sold to a specialized leasing company, alongside approximately 25 out-of-production aircraft that will be sold to a financial investor.
DAE will provide leasing and asset management services as well as technical support for these transactions.
Upon completion, these sales are expected to reduce the weighted average age of DAE's passenger aircraft fleet and increase the weighted average remaining lease term of the fleet.
Certain agreements are subject to regulatory approvals and customary closing conditions, with expectations for all transactions to close successfully.
Firoz Tarapore, CEO of Dubai Aerospace Enterprise, stated that these transactions aim to align the company's portfolio composition with targeted aircraft types and enhance overall fuel efficiency, thereby reducing the average age of the aircraft and extending the remaining lease periods of the aircraft within the portfolio.
Specific terms of these transactions have not been disclosed.
The aircraft portfolio includes around 50 Embraer E-JETS, which will be sold to a specialized leasing company, alongside approximately 25 out-of-production aircraft that will be sold to a financial investor.
DAE will provide leasing and asset management services as well as technical support for these transactions.
Upon completion, these sales are expected to reduce the weighted average age of DAE's passenger aircraft fleet and increase the weighted average remaining lease term of the fleet.
Certain agreements are subject to regulatory approvals and customary closing conditions, with expectations for all transactions to close successfully.
Firoz Tarapore, CEO of Dubai Aerospace Enterprise, stated that these transactions aim to align the company's portfolio composition with targeted aircraft types and enhance overall fuel efficiency, thereby reducing the average age of the aircraft and extending the remaining lease periods of the aircraft within the portfolio.
