DAE Image Credit: Supplied

Dubai: Dubai Aerospace Enterprise (DAE) said its leasing division, DAE Capital, has signed agreements to sell nine narrow- and wide-body aircraft with a total market value of about $500 million (Dh1.84 billion). The sales are all expected to close this year.

"The post-pandemic market for trading aircraft assets is robust,” said Firoz Tarapore, CEO of DAE, in a statement. “These transactions demonstrate DAE’s ability to originate and trade aircraft assets with a lease attached from high quality airline credits."

DAE 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 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 jetmaker. The order is valued at about $1.8 billion at aircraft list prices. DAE, a long-term Boeing partner, has 162 Boeing aircraft in its fleet.