DAE leases 3 new Boeing 777 freighters to AirBridgeCargo

Dubai, U.A.E., 19 June 2019: Dubai Aerospace Enterprise (DAE) Ltd. today announced that its leasing division DAE Capital and Moscow based, Volga Dnepr owned cargo airline AirBridgeCargo have entered into a purchase and leaseback agreement with PDP financing for 3 factory new Boeing 777 freighter aircraft. The 3 aircraft will be the first of this type to enter AirBridgeCargo’s fleet in 2020.

Firoz Tarapore, DAE’s Chief Executive Officer said: “We are delighted to welcome AirBridgeCargo as our newest customer and to be in a position to facilitate them with their fleet requirements as they expand their fleet diversification with this particular type. DAE Capital is the world’s largest lessor of 777F aircraft, and our long-term experience with this aircraft type helped in executing this agreement swiftly. We look forward to a long and rewarding relationship with AirBridgeCargo as they continue to grow their successful operations.”

Aleksey Isaikin, President of Volga-Dnepr Group commented: “Our agreement with Dubai Aerospace Enterprise marks an important moment in our history as we welcome the first Boeing 777 freighters into our fleet. These aircraft will support our strategy of broader fleet diversity and modernization, allowing us to deliver a more cost-efficient product to our customers.”

DAE currently has 15 owned and committed Boeing 777 freighters.