DAE delivers and commits to US$1.1 billion in aircraft assets

DUBAI, 11th July, 2019 (WAM) -- Dubai Aerospace Enterprise, DAE, today announced its H1 2019 key strategic and operational highlights for its leasing division.

In a press statement issued today, the company said it delivered and committed to deliver over US$1.1 billion in aircraft assets, grew its managed assets portfolio to 51 aircraft valued at $1.3 billion, boosted liquidity by adding a new $440 million revolving credit facility, and increased unsecured Debt-to-Total-Debt ratio to nearly 60 percent. It also repurchased shares held by EMAAR – now 100 percent owned by Investment Corporation of Dubai.

Furthermore, DAE's operational metrics include 357 owned, managed and committed aircraft in fleet, 110 customers from 56 countries, 8 new aircrafts purchased and 20 aircraft assets sold, with 24 lease transactions completed. The company's average age of owned fleet is 5.9 years and average lease term remaining on owned fleet is 6.4 years.

Dubai Aerospace Enterprise is a globally recognised aerospace corporation and one of the largest aircraft leasing companies in the world. Headquartered in Dubai, DAE’s leasing and engineering divisions serve over 125 airline customers around the world from its seven locations in Dubai, Dublin, Amman, Singapore and the US.

DAE’s award-winning leasing division DAE Capital has an owned, managed and committed fleet of approximately 355 Airbus, ATR and Boeing aircraft with a fleet value of US$14 billion.

WAM/Rola Alghoul/Rasha Abubaker/MOHD AAMIR