Dubai Aerospace Enterprise yesterday signed a deal with CALC to acquire the rights, interests and obligations of 64 Boeing 737 MAX.
Deliveries of the aircraft are expected to take place between 2023 and 2026, with the company saying that deals of the transaction will not be disclosed.
It is understood that the transaction will be concluded in the third quarter of this year.
Big Moves for Dubai Aerospace Enterprise…
Commenting on the deal was Firoz Tarapore, Dubai Aerospace Enterprise’s CEO:
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“We are delighted to be able to conclude this transaction with CALC to acquire a unique portfolio of 100% new technology, fuel efficient single aisle aircraft.
“On a pro forma basis, this transaction will increase the percentage of new technology, fuel efficient aircraft in our owned fleet to approximately 66% from 50%.”
“This transaction will add certainty to our growth trajectory.”
“On a pro forma basis, this transaction will increase our fleet of owned, managed, committed, and mandated-to-manage aircraft to approximately 550 aircraft, valued at approximately US$20 billion.”
“This transaction will also allow us to further deepen our existing relationship with Boeing and CFM International.”
“Since inception and including this transaction, DAE has acquired and is committed to acquire approximately 500 Boeing aircraft.”
“We look forward to growing this relationship even further in the coming years.”
“Approximately 20% of the acquired portfolio is on lease to airline clients who are also existing clients of DAE and we look forward to expanding our relationship with them.”
“The remainder of the acquired portfolio of assets will be placed directly by DAE in the coming quarters.”
All eyes will be on the company now to see where these aircraft will be placed going into the future.
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