Arab News, Wednesday, Jul 7, 2021 | Zul Qaadah 26, 1442
Dubai Aerospace Enterprise unit to sell nine aircraft worth $500m
Saudi Arabia:
Dubai Aerospace Enterprise said that its leasing unit agreed
to sell nine aircraft with a total market value of about $500 million.
DAE Capital expects to close the sale of the narrow and wide-body aircraft by
2021.
“The post-pandemic market for trading aircraft assets is robust,” said DAE Firoz
Tarapore. “These transactions demonstrate DAE’s ability to originate and trade
aircraft assets with a lease attached from high quality airline credits.”
After being hit hard by the collapse of global air travel last year, some
leasing companies are now benefiting from ab upswing in demand as airlines
restore capacity that was withdrawn when international travel restrictions were
rolled out.
DAE serves about 170 airline customers in more than 65 countries from its seven
office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and
Seattle.