Dubai, UAE - DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), has leased two 737-700 Aircraft to THY Turkish Airlines.
The aircraft leased to Turkish Airlines will be operated by their LLC subsidiary Anadalou Jet until March and April 2015 respectively.
Bob Genise, CEO of DAE Capital, said: "DAE Capital is very pleased to have concluded our first lease transaction with THY with these two B737-700 aircraft and we look forward to developing and growing our business relationship with them in the future."
Dr. Temel Kotil, CEO of Turkish Airlines, said: "Turkish Airlines is pleased to deal with DAE Capital regarding two B737-700 A/C lease transaction. These two new generation aircraft will provide a competitive cost advantage for our LCC subsidiary Anadolu jet. We strongly believe that our partnership with DAE Capital will grow with new transactions in the future."
DAE Capital's fleet currently comprises 37 single aisle and wide-body aircraft. Furthermore, it has an additional 24 aircraft contracted of which 15 are on a purchase and lease back basis. DAE Capital has committed to invest in a fleet portfolio with an estimated market value of $27 billion that will gradually encompass 100 Airbus A320 family and A350 XWB aircraft, and 100 Boeing 737 Next Generation aircraft and wide-body planes, which will commence delivery in 2010.
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About DAE Capital: www.daecapital.com
DAE Capital is part of Dubai Aerospace Enterprise, a fast developing global aerospace, manufacturing and services corporation. Being established as an aircraft leasing and finance business, DAE Capital aims to become one of the largest aircraft leasing companies serving an international market, inside the next decade. It aims to support the incredible demand for new aircraft globally, with a balanced quality portfolio of single-aisle and wide-body aircraft.
DAE Capital offers clients and investors a proposition few others can match. As one of the divisions of DAE, the group provides a synergised cluster of aerospace services, allowing customers to benefit from a world-class shared knowledge and service pool. Its unrivalled position allows it to provide advanced value-added services to airlines in conjunction with the other DAE segments such as engineering, maintenance, repair and overhaul. DAE Capital seeks to become an integral part of the global
About DAE: www.dubaiaerospace.com
Dubai Aerospace Enterprise is building a globally recognized aerospace corporation with operations from aircraft leasing, maintenance, repair and overhaul (MRO), and Aviation IT solutions. It is creating an innovative business that builds on Dubai's dynamism and continuous growth in Aviation.
Headquartered in Dubai, the group is growing through a series of phased developments and acquisitions to become a global player and to produce an integrated aerospace cluster, based at Dubai World Central - the new 140 square kilometre airport and logistics city being constructed in Jebel Ali, Dubai. It is forming international partnerships at the highest level of industry with the aim of establishing one of the most innovative and successful businesses in the global aerospace industry within the next decade.
About Turkish Airlines: www.turkishairlines.com
Being established in 1933 with fleet of only 5 aircraft, Turkish Airlines is today a 4-star airlines company with a fleet of 133 aircraft flying to 155 destinations around the world, comprising 36 domestic and 119 international destinations. Turkish Airlines is a member of the Star Alliance network which was established in 1997. Overall, the Star Alliance network offers 17,000 daily flights to 916 destinations in 160 countries.
For further information contact:
Munther Juma
Tel: +971 50 4502333
Email: munther.juma@dubaiaerospace.com
Noora AlMazrooie
Tel: +971 50 6513184
Email: noora.almazrooie@dubaiaerospace.com
© Press Release 2009
