International Finance

Dubai Aerospace Enterprise to manage $1.4 bn aircraft portfolio

While DAE will acquire the aircraft, they will be managed by the company’s Aircraft Investor Services platform

Aircraft leasing company Dubai Aerospace Enterprise (DAE) has received a $1.4 billion investment from an unidentified investor. According to the deal, Dubai Aerospace Enterprise will acquire the aircraft, which will be managed by the company’s Aircraft Investor Services platform on behalf of the unidentified investor.

When asked about the unidentified investors, Dubai Aerospace Enterprise revealed that it is one of the largest fund managers globally.

Dubai Aerospace Enterprise will acquire both narrow-bodied and wide-bodied aircraft. After the completion of this deal, the company’s managed portfolio would be around $2.7 billion in assets under management.

Dubai Aerospace Enterprise chief executive officer Firoz Tarapore told the media that, “We own more than 300 aircraft and will manage more than 100 aircraft. We maintain an active dialogue with 250 airline customers. This scale and relevance combined with our 150 person full-service platform and our industry-leading AIS offering is a very compelling value proposition for investors in the managed aircraft space.”

Earlier this month, Dubai Aerospace Enterprise announced that its engineering unit and Jordan-based Joramco have obtained the approval of EASA Part -145 to manage Boeing 777.

Dubai Aerospace Enterprise, which is also Middle East’s largest leasing company, reported a profit of around $197 million in the first six months of the year, while its profits stood at $195.2 million during the same period last year.

In a bid to expand its aircraft portfolio, the leasing company sold 18 mid-life jets to institutional investors last year. The planes which the company sold were a mix of narrow-bodied and wide-bodied planes which were on lease to 15 airlines in 13 different countries.

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