Dubai-based aircraft leader DAE to sell nine aircrafts for $500m

Dubai Aerospace Enterprise (DAE), a global leader in aircraft lease, will sell nine narrow and wide body aircraft worth approximately $500 million, Zawya reports.
The sales according to the company will all take place this year.
“The post-pandemic market for trading aircraft assets is robust. These transactions demonstrate DAE’s ability to originate and trade aircraft assets with a lease attached from high quality airline credits,” said Firoz Trapore, chief executive officer of DAE.
The sales will take place following the purchase agreement with Boeing early this year for 15 jets.
It recently sold $1 billion in bonds for general corporate purposes, following a nearly 40 percent decline in 2020 profit to $228.9 million, the media says citing Reuters.
The company operates a fleet of 425 planes. It boasts 110 customers spread across 52 countries.

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