Dubai Aerospace Enterprise has nearly 500 aircraft in fleet worth $17 billion
DAE announces business and operational highlights, and major transactions in 2023
Dubai: Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company based in the emirate, announced their business and operational transactions for 2023 on Wednesday.
The company’s results include transactions of the Group as well as its divisions, DAE Capital and DAE Engineering.
DAE Capital acquired 20 aircraft and sold 30 last year, with a final fleet size of 493 aircraft. The fleet includes Airbus, ATR, and Boeing aircraft with a value of US$17 billion.
The firm also acquired the rights, interests, and obligations of a portfolio of 64 Boeing 737 MAX aircraft in the third quarter of 2023. The average age of DAE’s fleet, the company revealed, was 7.5 years.
DAE Capital served 123 customers across 62 countries while DAE Engineering provided services to more than 50 customers in 25 countries. DAE Engineering was also Appointed the Middle East’s first Boeing 737-800BCF conversion line in partnership with Boeing.
The company announced its largest bank financing in history, with US$1.6 billion (Dh5.87 billion) multi-tranche bank financing, consisting of both conventional and Islamic tranches.
DAE additionally touted their regional and industry-level ratings – Morningstar Sustainalytics ESG Risk Rating of 12.5 – making them top-rated in both sectors for the third year running. In 2023, DAE received the Lowest ESG Risk Rating of any rated aircraft lessor.
Established in 2006, DAE serves over 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York, and Seattle.