|11 July, 2019

Dubai's DAE delivers and commits to $1.1bln in aircraft assets

Company grew its managed assets portfolio to 51 aircraft valued at $1.3bln

Image used for illustrative purpose. Visitors to Asian Aerospace walk past a Pratt & Whitney engine on display at the U.S. engine maker's stand at the Singapore air show February 28, 2002. A joint venture of Pratt & Whitney and General Electric Co scored a key win in the fiercely competitive aero-engines market on Thursday as Dubai airline Emirates chose them for a deal worth up to $1.5 billion to supply engines for at least 22 huge Airbus A380 superjumbo planes. REUTERS/Luis Enrique Ascui LEA/JD

Image used for illustrative purpose. Visitors to Asian Aerospace walk past a Pratt & Whitney engine on display at the U.S. engine maker's stand at the Singapore air show February 28, 2002. A joint venture of Pratt & Whitney and General Electric Co scored a key win in the fiercely competitive aero-engines market on Thursday as Dubai airline Emirates chose them for a deal worth up to $1.5 billion to supply engines for at least 22 huge Airbus A380 superjumbo planes. REUTERS/Luis Enrique Ascui LEA/JD

REUTERS/Luis EnriqueAscuiLEA/JD

DUBAI - 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.

© Copyright Emirates News Agency (WAM) 2019.

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