Business | Aviation
DAE continues to grow wide-body lease portfolio
Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, has acquired three Airbus aircraft ordered by Kingfisher Airlines in a sale and leaseback deal.
- Staff Report
- Published: 14:41 October 20, 2008
Dubai: Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, has acquired three Airbus aircraft ordered by Kingfisher Airlines in a sale and leaseback deal.
DAE Capital, the aircraft leasing and financing business, announced the completion of the acquisition of three new Pratt and Whitney-powered Airbus A330-200 wide-body aircraft ordered by Kingfisher Airlines from Airbus. Delivery of all three aircraft concluded in August 2008. .
Dubai-headquartered DAE Capital is rapidly establishing itself as a world-class aircraft leasing business. It currently has 33 aircraft on its books, with a further 200 Boeing and Airbus aircraft on order with deliveries commencing from 2010.
Dr. Omar Bin Sulaiman, DAE Group Managing Director, said: "The continuing growth of DAE's leasing business reflects our position as an emerging power within the aviation and aerospace sector. The Middle East is recognised for being one of the world's most ambitious and dynamic regions and our goal is to continue to develop DAE business synergies and fully transform the aviation experience."
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