DAE Announces Full Year 2024 Business And Operational Highlights DAE Capital Acquired 83 Aircraft, Sold 68 Aircraft, Signed 233 Lease Transactions DAE Engineering Booked Over 1.5 M

(MENAFN- Dubai PR Network) Dubai, U.A.E., 02 January 2025
– Dubai Aerospace Enterprise (DAE) Ltd (“DAE”), the global aviation services company, today reported its business transactions update for the full year 2024.

DAE Capital:

• Acquired
  83
  aircraft (owned:
  30; managed:
  53)
• Sold
  68
  aircraft (owned:
  19; managed:
  49)
• Signed
  233
  lease agreements, extensions and amendments (owned:
  190; managed:
  43)

·





Placed on long-term lease
17 Boeing 737 MAX
aircraft to Turkish Airlines, Eastar Jet, and Hainan Airlines.

·





Signed definitive purchase agreements to acquire
36
aircraft from multiple counterparties for an aggregate consideration of
US$1.6 billion.

·





Priced a
US$497.2 million
two-tranche aircraft ABS for a DAE managed asset client.

DAE Engineering:

• Booked >1.5 million
  man-hours
• Performed >300
  aircraft checks

·





Increased hangar capacity by
30%
by expanding the number of bays to
22, including one A380 capable bay.

·





Deepened Joramco and Spirit AeroSystems relationship by adding further new shop capabilities in 2024.

Group:

• Signed an
  AED 2.75 billion
  5-year unsecured term loan with a GCC lender.
• Upgraded by Fitch Ratings and Moody's Investors Services to
  BBB
  and
  Baa2, respectively.

Commenting on the results,
Firoz Tarapore, Chief Executive Officer of DAE, said:“2024 was another year of exemplary execution of our strategy to continually enhance our global franchise. The metrics we announced today reaffirm DAE's status as a leading aviation services corporation, supported by two market-leading divisions: DAE Capital, a global top ten aircraft lessor, and DAE Engineering, the region's independent airframe MRO of choice.

This was recognized during the year by both Fitch Ratings and Moody's Investors Service, who both upgraded our unsecured credit ratings because of exemplary financial prudence including rock-solid commitments to capital adequacy and maintenance of exceptional liquidity.”

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