Dubai Aerospace Enterprise Acquires 23 Aircraft, Sells 23 Aircraft in 1st 9 Months

Dubai Aerospace Enterprise (DAE) Ltd has acquired 23 aircraft, sold 23 aircraft and successfully placed order for 12 Boeing 737 MAX 8 with a customer in the Americas in the first nine months of 2021. DAE has three new servicing agreements covering six aircraft. The lease agreements, extensions and amendments signed totaled 147. The firm has a fleet size (owned, managed, committed and mandated to manage) of 425, a DAE release said.

The company has 114 customers in 54 countries. The average age of its owned fleet is 6.6 years. DAE issued new senior unsecured debt worth US$2.55 billion under weighted average tenure and coupon of 4.5 years and 2.31%, respectively. Its senior unsecured debt redeemed or announced for redemption is worth US$2.19 billion with weighted average term remaining and coupon of 1.9 years and 5.00%, respectively. DAE’s credit rating has been affirmed and outlook revised to ‘Stable’ by both Moody’s and Fitch.