UAE plane lessor DAE signs deal with IndiGo for Airbus aircraft

Contract covers lease of 7 Airbus A321neo

  
Dubai Aerospace delivers first of 18 Boeing 737 MAX 8 aircraft to American Airlines. Image courtesy Dubai Media Office Twitter handle. Image used for illustrative purpose.

Dubai Aerospace delivers first of 18 Boeing 737 MAX 8 aircraft to American Airlines. Image courtesy Dubai Media Office Twitter handle. Image used for illustrative purpose.

Dubai Aerospace Enterprise (DAE), one of the world’s biggest aircraft leasing companies, has signed a long-term lease deal with India’s largest passenger airline IndiGo.

The agreement covers the lease of seven Airbus A321neo, which will be powered by CFM International’s Leading Edge Aviation Propulsion (LEAP) engines.

DAE did not disclose the value of the contract for the aircraft, which will be delivered this year.

Firoz Tarapore, DAE chief executive officer, said the introduction of the aircraft will allow IndiGo to expand the range of its product offering.

“We are delighted to add this fuel-efficient aircraft and popular aircraft type to our leased aircraft portfolio. This investment reiterates our commitment to invest in new, fuel-efficient aircraft to minimise carbon and nitrogen emissions, as well as noise,” he said.

(Writing by Cleofe Maceda; editing by Mily Chakrabarty)

Cleofe.maceda@refinitiv.com

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