DAE Capital acquired 20 aircraft, sold 30 aircraft, signed 150 lease transactions

DAE Engineering booked over 1.4 million man-hours

 

Dubai, U.A.E., 3 January 2024 – Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, today announced its business transactions update for the full year 2023:

 

DAE Capital: 

• Number of aircraft acquired: 20 (owned: 10; managed: 10)

• Number of aircraft sold: 30 (owned: 22; managed: 8)* 

• Lease agreements, extensions and amendments signed: 150 (owned: 114; managed: 36)

 

• Fleet Size (Owned, Managed, and Committed): 493

• Customers: 123; Countries: 62

• Owned Fleet Average Age (years): 7.5

• Owned Fleet Average Lease Term Remaining (years): 6.0

• Owned Fleet Portfolio Contracted: 99.7%

 

• Acquired the rights, interests, and obligations of a portfolio of 64 Boeing 737 MAX aircraft in the third quarter

 

DAE Engineering: 

• Number of man hours booked: >1,400,000

• Number of checks performed: >300

• Customers Served: >50; Countries Served: 25

 

• Appointed as the Middle East’s first Boeing 737-800BCF conversion line in partnership with Boeing

• Announced the expansion of Joramco’s facilities in Amman, Jordan, which is expected to reach 22 maintenance lines in the second half of 2024

 

Group: 

• Announced US$1.6 billion multi-tranche bank financing, consisting of both conventional and Islamic tranches; largest bank financing in DAE’s history 

• Open market bond repurchases: US$400.7 million

• Morningstar Sustainalytics ESG Risk Rating: 12.5; Industry Top-Rated and Regional Top-Rated for third year running; Lowest ESG Risk Rating of any rated aircraft lessor

* Includes seven (7) aircraft subject to insurance settlement and receipt of certain settlement proceeds received in the fourth quarter of 2023.