A Boeing 737 MAX 8
DAE has placed orders for 15 of the Boeing 737 MAX 8. The US aircraft maker has a strong representation in the Dubai company's fleet. Image Credit: AP

Dubai: The aircraft leasing company Dubai Aerospace Enterprise (DAE) said it acquired 16 aircraft in the first-half of this year, with the number of new underwriting aircraft purchase commitments at 26. Meanwhile, aircraft sale agreements signed totalled 27.

The company, which has 425 aircraft in its fleet, had in April confirmed it would acquire 15 Boeing 737 MAX 8 aircraft from the US plane-maker. The order is valued at about $1.8 billion - Dh6.6 billion - at aircraft list prices. DAE, a long-term Boeing partner, has 162 Boeing aircraft in its fleet.

Revenue fall

The company reported revenues of $307.5 million (Dh1.13 billion) in the first quarter, compared to $352 million (Dh1.29 billion) in the same period a year earlier. The adjusted profit before tax stood at $25 million (Dh91.83 million) in the first quarter, compared to a profit of $83.8 million (Dh307.80) a year earlier.