(MENAFN- Dubai PR Network) DAE Announces Full Year 2023 Business and Operational Highlights
DAE Capital acquired 20 aircraft, sold 30 aircraft, signed 150 lease transactions
DAE Engineering booked over 1.4 million man-hours
Dubai, U.A.E., 3 January 2024 – Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, today announced its business transactions update for the full year 2023:
DAE Capital:
. Number of aircraft acquired: 20 (owned: 10; managed: 10)
. Number of aircraft sold: 30 (owned: 22; managed: 8)*
. Lease agreements, extensions and amendments signed: 150 (owned: 114; managed: 36)
. Fleet Size (Owned, Managed, and Committed): 493
. Customers: 123; Countries: 62
. Owned Fleet Average Age (years): 7.5
. Owned Fleet Average Lease Term Remaining (years): 6.0
. Owned Fleet Portfolio Contracted: 99.7%
. Acquired the rights, interests, and obligations of a portfolio of 64 Boeing 737 MAX aircraft in the third quarter
DAE Engineering:
. Number of man hours booked: >1,400,000
. Number of checks performed: >300
. Customers Served: >50; Countries Served: 25
. Appointed as the Middle East's first Boeing 737-800BCF conversion line in partnership with Boeing
. Announced the expansion of Joramco's facilities in Amman, Jordan, which is expected to reach 22 maintenance lines in the second half of 2024
Group:
. Announced US$1.6 billion multi-tranche bank financing, consisting of both conventional and Islamic tranches; largest bank financing in DAE's history
. Open market bond repurchases: US$400.7 million
. Morningstar Sustainalytics ESG Risk Rating: 12.5; Industry Top-Rated and Regional Top-Rated for third year running; Lowest ESG Risk Rating of any rated aircraft lessor
* Includes seven (7) aircraft subject to insurance settlement and receipt of certain settlement proceeds received in the fourth quarter of 2023.
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