DAE acquired 23 aircraft, sold 23 aircraft, added 3 new managed customers, and signed 147 lease transactions in the First 9 Months of 2021

Editor -

Dubai, U.A.E., 4 October 2021 – Dubai Aerospace Enterprise (DAE) Ltd today announced its business transactions update for the first nine months of 2021 for its aircraft leasing division, DAE Capital:

Business Transactions Update – First 9 Months 2021:

  • Number of aircraft acquired: 23 (owned: 10; managed: 13)
  • Number of aircraft sold: 23 (owned: 16; managed: 7)
  • Number of new servicing agreements: 3 covering 6 aircraft
  • Lease agreements, extensions and amendments signed: 147 (owned: 128; managed: 19)
  • Fleet Size (Owned, Managed, Committed and Mandated to Manage): ~425
  • Customers: 114; Countries: 54
  • Owned Fleet Average Age (years): 6.6
  • Owned Fleet Average Lease Term Remaining (years): 6.4
  • Owned Fleet Portfolio Contracted: 99%
  • New Senior Unsecured Debt Issued: US$2,550 million; weighted average tenor and coupon: 4.5 years and 2.31%, respectively
  • Senior Unsecured Debt Redeemed or announced for redemption: US$2,192 million; weighted average term remaining and coupon: 1.9 years and 5.00%, respectively
  • Credit Rating affirmed and outlook revised to ‘Stable’ by both Moody’s and Fitch
  • Inaugural ESG Risk Rating of 14.1 received from Sustainalytics, lowest in aircraft leasing industry
  • Successful Order Book Placement: 12 Boeing 737 MAX 8 placed with a customer in the Americas