Yesterday, Dubai Aerospace Enterprise announced the results of its business and commercial operations for the year 2024, as it acquired 83 aircraft, including 30 owned aircraft and 53 managed aircraft, while it sold 68 aircraft, including 19 owned and 49 managed.
The company reported, in a statement, that it had signed 233 leasing, extension and modification agreements during the past year, and had also signed long-term leasing agreements for 17 Boeing 737 MAX aircraft for Turkish Airlines, StarJet, and Hainan Airlines.
It added that it had also signed final agreements to purchase 36 aircraft from multiple parties, for a total amount of $1.6 billion (5.87 billion dirhams).
An issuance of bonds secured by aircraft ABS assets was priced at a value of $497.2 million (1.824 billion dirhams), divided into two tranches, for the benefit of one of the clients whose assets the company manages.
The Engineering Department at DAE recorded more than 1.5 million working hours, completing more than 300 aircraft inspections.
The hangar capacity increased by 30%, with the number of routes rising to 22, including one route capable of accommodating A380 aircraft.
The company indicated that an unsecured loan worth 2.75 billion dirhams, with a repayment period of five years, was signed with a financing body in the Gulf Cooperation Council countries. DAE stated that Fitch Rating Agency raised its rating to BBB, while Moody’s Investors Services raised it to Baa2.
The CEO of DAE, Fayrouz Tarapore, said: “In 2024, we were able to implement our strategy to the fullest, in light of our continued endeavors to enhance our global presence.”
. 1.5 million working hours recorded by the Engineering Department at Dubai Aerospace Enterprise.
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