Dubai Aerospace Enterprise (DAE) has revealed it has entered into agreements to acquire 23 aircraft from various parties for a total sum of approximately $1.1B.
Once combined, the aircraft portfolio will have a weighted average age of 3.4 years, with a weighted average remaining lease term of 8.8 years. The aircraft are currently leased to 13 airlines across 9 countries.
The consolidated portfolio comprises 91% narrow-body aircraft by value, with 86% being next-generation technology aircraft.
Firoz Tarapore, CEO of DAE, stated, “We are pleased to integrate this youthful aircraft portfolio with a long remaining lease term into our fleet. As part of these transactions, we are welcoming six new airline customers to our globally diverse client base.
“With the addition of these aircraft, our next-generation fuel-efficient fleet composition is expected to improve by roughly four percentage points on a pro forma basis.”
All aircraft acquisitions are expected to be finalised by the end of 2024.