Dubai, U.A.E.: – Dubai Aerospace Enterprise (DAE) Ltd. today announced that it has delivered the first of 18 Boeing 737 MAX 8 aircraft to American Airlines as part of the Purchase and Leaseback agreement signed with American in the third quarter of this year. Delivery of the remaining aircraft is expected to be completed in the coming months.
Firoz Tarapore, Chief Executive Officer of DAE commented: “We are delighted to be in a position to offer a meaningful solution to American Airlines, a long-term customer of DAE, and to see the Boeing 737 MAX return to service. We are also pleased to further invest in these technologically advanced and fuel-efficient aircraft types in line with our commitment to environmental sustainability. The Boeing 737 MAX boasts superior fuel efficiency and reduced emissions and noise pollution, underpinning DAE’s commitment to transition its fleet to newer technology assets, reducing the environmental impact of our business and supporting DAE’s customers’ ambitions to become more sustainable operators. Our owned and committed fleet includes 22 Boeing 737 MAX 8 aircraft.”
“We’re pleased with DAE’s ability to help create a purchase and leaseback solution for these 18 aircraft,” said Meghan Montana, American’s Vice President and Treasurer. “DAE’s ability to facilitate an agreement of this size in today’s environment is a testament to their reputation and their confidence in American Airlines, and we look forward to a successful, ongoing partnership.”
-Ends-
About DAE
Dubai Aerospace Enterprise (DAE) Ltd. is a globally recognized aerospace corporation with two divisions: Aircraft Leasing and Engineering. Headquartered in Dubai, DAE serves over 125 airline customers in over 60 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle.
DAE’s award-winning Aircraft Leasing division has an owned, managed, committed and mandated to manage fleet of approximately 425 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$16 billion. DAE’s Engineering division serves customers in Europe, Middle East, Africa and South Asia from its state-of-the-art facility accommodating up to 15 wide and narrow body aircraft. It is authorized to work on 13 aircraft types and has regulatory approval from over 25 regulators globally. More information can be found on the company’s web site at www.dubaiaerospace.com
For further information, please contact:
Media
Arne Bevaart
+971 4 428 9591
press.office@dubaiaerospace.com
Fixed Income Investors
Sinan Kahya
+971 4 428 9593
investorrelations@dubaiaerospace.com
© Press Release 2020
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
