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DAE Capital acquired 20 aircraft, sold 30 aircraft, signed 150 lease transactions
DAE Engineering booked over 1.4 million man-hours
Dubai, U.A.E., 3 January 2024 – Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, today announced its business transactions update for the full year 2023:
DAE Capital:
• Number of aircraft acquired: 20 (owned: 10; managed: 10)
• Number of aircraft sold: 30 (owned: 22; managed: 8)*
• Lease agreements, extensions and amendments signed: 150 (owned: 114; managed: 36)
• Fleet Size (Owned, Managed, and Committed): 493
• Customers: 123; Countries: 62
• Owned Fleet Average Age (years): 7.5
• Owned Fleet Average Lease Term Remaining (years): 6.0
• Owned Fleet Portfolio Contracted: 99.7%
• Acquired the rights, interests, and obligations of a portfolio of 64 Boeing 737 MAX aircraft in the third quarter
DAE Engineering:
• Number of man hours booked: >1,400,000
• Number of checks performed: >300
• Customers Served: >50; Countries Served: 25
• Appointed as the Middle East's first Boeing 737-800BCF conversion line in partnership with Boeing
• Announced the expansion of Joramco's facilities in Amman, Jordan, which is expected to reach 22 maintenance lines in the second half of 2024
Group:
• Announced US$1.6 billion multi-tranche bank financing, consisting of both conventional and Islamic tranches; largest bank financing in DAE's history
• Open market bond repurchases: US$400.7 million
• Morningstar Sustainalytics ESG Risk Rating: 12.5; Industry Top-Rated and Regional Top-Rated for third year running; Lowest ESG Risk Rating of any rated aircraft lessor
* Includes seven (7) aircraft subject to insurance settlement and receipt of certain settlement proceeds received in the fourth quarter of 2023.
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