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**Dubai Aerospace Enterprise Signs Agreement to Purchase 23 Aircraft for $1.1 Billion**
**Delivery Expected by the End of This Year**
Dubai Aerospace Enterprise (DAE) has signed agreements to purchase 23 aircraft from multiple parties for a total amount of approximately $1.1 billion.
The company stated in a press release on Wednesday that the average age of the aircraft portfolio at the time of purchase is 3.4 years, with an average remaining lease term of 8.8 years. The aircraft are currently leased to 13 airlines in 9 countries.
In terms of value, the portfolio consists of 91% narrow-body aircraft, while next-generation technology aircraft make up 86% of the portfolio, according to the Emirates News Agency (WAM).
DAE’s CEO, Firoz Tarapore, said, “We are pleased to strengthen our fleet with this new portfolio of aircraft that still has a long lease term remaining. We are also delighted to welcome six new airline customers to our globally diverse client base through this acquisition. Following the integration of these new aircraft, we anticipate an estimated four-percentage-point improvement in our next-generation, fuel-efficient fleet.”
All the aircraft are expected to be delivered by the end of this year, 2024.
–by/radwa sherif ✏️✏️📚