Dubai, U.A.E., 18 March 2018 – Dubai Aerospace Enterprise (DAE) Ltd. has announced that its leasing division, DAE Capital has delivered a new Airbus A320-200 aircraft to existing customer, Spring Airlines. The delivery took place at the Airbus delivery centre in Hamburg, Germany.

This delivery is the first of three new A320-200 aircraft that DAE has agreed to lease to the Chinese low-cost airline. All aircraft will come equipped with CFM 56-5B4/3 PIP engines. These modern, fuel-efficient planes will be delivered in 2018 and are part of a direct order DAE has with Airbus.

DAE has a long standing relationship with Spring Airlines, and has to date leased nine Airbus A320 family aircraft into one of China’s most successful carriers. With the delivery of this new A320-200 aircraft, Spring Airlines has five planes on lease from DAE, rising to seven with the delivery of two more A320s this year.

Commenting on the deal, DAE Chief Executive Officer, Firoz Tarapore said: “We are pleased to place three of our Airbus A320 forward order with China’s first and North Asia’s largest low fare airline. DAE has been working with Spring Airlines for over a decade now and we are excited to play a role in their continued success. This transaction demonstrates DAE’s capital strength and our ability to provide comprehensive solutions to airline clients over a significant period of time.”

Mr. Wang Yu, Spring Airlines Chairman, said: “This delivery helps us continue to develop our fleet strategy requirements beyond 2018. This latest addition to the Spring Airlines A320 family fleet will assist us as we look to capitalize on China’s increasing domestic and regional demand for leisure and business air travel. We look forward to growing the relationship with DAE, as they have demonstrated over the years an ability to provide flexible solutions for Spring Airlines.”