DAE Announces Full Year 2023 Business and Operational Highlights

Last Update: Wednesday, January 3, 2024 : 14:33 (+4GMT)

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.

Posted by: GoDubai PR Dept
Viewed: 5130 times
PR Category: Business & Economy
Posted on: 3 Jan 2024 2:33:00 PM (GMT+4)

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