A Boeing 737 MAX 8
For DAE, the leasing of the 737 MAX 8s in its fleet will be a huge booster from the first quarter. It's fleet utilisation rate too has been spot on. Image Credit: AP

Dubai: Aircraft leasing company Dubai Aerospace Enterprise (DAE) acquired 13 aircraft and sold seven in the first three months of this year, while overseeing 48 lease transactions. Last month, DAE said it had “substantially” completed an agreement with American Airlines to lease 18 new Boeing 737 MAX 8 aircraft.

“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.

DAE had earlier told Gulf News that it was in talks with airlines about leasing the MAX 8 aircraft in its fleet - days after UAE’s aviation regulator lifted its ban on the airplane. The Dubai-based aircraft lessor has 20 Boeing 737 MAX 8 aircraft with operators.

The company’s fleet utilization stood at 98.6 per cent in the first quarter.