DAE to Lease Two New Airbus A320 Aircraft to Hongtu Airlines

Ltd. has announced that its leasing division, DAE Capital and Yunnan Hongtu Airlines ('Hongtu') of China have today completed a lease agreement for two new Airbus A320-200 aircraft. These modern, fuel efficient planes will be delivered in 2018 and are part of a direct order DAE has with Airbus. The aircraft will come equipped with CFM 56-5B4/3 PIP engines.

This latest addition to the Hongtu A320 family fleet will assist the carrier as it looks to capitalize on China's increasing domestic demand for leisure and business air travel, offering a high-end, customized service to its passengers. Hongtu currently has a fleet of three Airbus A320 family aircraft and operates flights to 10 domestic destinations.

Commenting on the deal, DAE Chief Executive Officer, Firoz Tarapore said: 'DAE is pleased to welcome on board one of China's youngest airlines. Our current forward order puts us in a great position to support Hongtu's 2018 fleet strategy, and we look forward to growing our relationship in line with the airline's ambitious growth plans.'

Commenting on the deal, Hongtu Airlines Chief Executive Officer, Liu Gang said: 'Hongtu is delighted to be working with DAE as it embarks upon its fleet expansion. Going forward, we expect to continue working with lessors, such as DAE to support our growth strategy.'

About DAE

Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized and award-winning aerospace company headquartered in Dubai. More information can be found on the company's web site at .

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