UAE aviation companies are actively expanding their fleets. Following Emirates airline’s recent acquisition, Dubai Aerospace Enterprise (DAE) has announced agreements to acquire up to 23 aircraft from various sources, with a total value of $1.1 billion.
Details of the Aircraft Portfolio
The newly acquired aircraft have a weighted average age of 3.4 years and an average remaining lease term of 8.8 years. These planes are currently leased to 13 airlines across nine countries.
Fleet Composition and Future Plans
The new acquisitions include 91% narrow-body aircraft by value, with 86% featuring next-generation technology. The transactions are expected to be completed by the end of the year. DAE’s existing fleet is valued at over $18 billion.
CEO’s Statement on the Acquisition
Firoz Tarapore, CEO of DAE, expressed enthusiasm about the acquisition, stating, “We are delighted to add this young portfolio of aircraft assets with a long remaining lease term to our fleet. As part of these transactions, we welcome six new airline customers to our globally diverse customer base. With these additions, our next-generation fuel-efficient fleet composition is projected to improve by approximately four percentage points on a pro-forma basis.”
