Sources say, the aircraft leasing division of Dubai Aerospace (DAE) has kept its calendar busy by signing 48 lease deals during the first three months of the year 2021.
What excites aviation industry is, we are still under a crisis of aviation sector.
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The company, which is owned by Dubai’s sovereign wealth fund, has also acquired 13 more aircraft in the same period and sold 7 aircrafts, it said in a statement.
DAE acquires 13 aircraft, sells 7 aircraft, and signs 48 lease transactions in the First Quarter of 2021https://t.co/HV43E79fW1 pic.twitter.com/0iM0UKLR87
— DAE (@dubaiaerospace) April 12, 2021
The new figures bring DAE’s total owned and managed fleet to 425, up from 374 in December 2020.
The global aircraft leasing industry is reeling under the global pandemic as airlines worldwide have been forced to ground fleets and delay new leases and purchases until the sector regains momentum.
“This transaction reflects our agility, our balance-sheet strength, our underwriting capability, our ability to assist one of our long-term customers and our belief in the product strength of the 737 MAX 8 aircraft,” said Firoz Tarapore, CEO of DAE, in a statement.
Last month, DAE said it had “substantially” completed an agreement with American Airlines to lease 18 new Boeing 737 MAX 8 aircraft.
