Dubai Aerospace Enterprise (DAE), recognized as the largest aviation leasing and engineering firm in the Middle East, has reached an agreement to divest 75 aircraft to two undisclosed buyers as part of its strategy to reorganize its fleet.
According to a statement released on Wednesday, a batch of 50 Embraer E-Jets will be sold to a specialized leasing company.
Additionally, another 25 retired aircraft will be sold to a financial investment firm. The arrangement includes services for leasing, asset management, and technical oversight.
The specifics of the deals have not been revealed.
Firoz Tarapore, CEO of DAE, noted that these sales will allow the company to concentrate on preferred aircraft models and enhance the fuel efficiency, age profile, and leasing conditions of its fleet.
Post-transaction, the anticipated composition of DAE’s fleet will consist of 45 percent Boeing aircraft, 42 percent Airbus, and 13 percent ATR.
All transactions are projected to be finalized by the end of the year, as per the announcement.
In March, DAE purchased 17 aircraft for $1 billion from various sellers.
In January of the previous year, the company—sponsored by the Investment Corporation of Dubai—acquired the Ireland-based aircraft leasing firm Nordic Aviation Capital.
DAE caters to more than 200 airline clients across over 85 countries from its eight global offices. Its fleet, comprising 750 Airbus, ATR, Embraer, and Boeing aircraft, is valued at $22 billion.
