Dubai's DAE signs agreements to sell aircraft valued at $500mln

Sales are all expected to close in 2021

  
Dubai aerospace. Image courtesy Dubai Media Office Twitter handle.

Dubai aerospace. Image courtesy Dubai Media Office Twitter handle.

DUBAI - Dubai Aerospace Enterprise (DAE) will sell nine narrow and wide body aircraft with a total market value of approximately US$500 million.

The agreements to sell aircraft were signed recently by its leasing division DAE Capital, and sales are all expected to close in 2021, the company said on Tuesday.

Firoz Tarapore, Chief Executive Officer of DAE, commented, "The post-pandemic market for trading aircraft assets is robust. These transactions demonstrate DAE’s ability to originate and trade aircraft assets with a lease attached from high quality airline credits."

WAM/Rola Alghoul/MOHD AAMIR

© WAM (Emirates News Agency) 2021

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