Skip to content Skip to Search
Skip navigation

Dubai Aerospace Enterprise to buy 64 Boeing 737 Max

By Pramod Kumar
Dubai Aerospace Boeing Dubai Media Office
The transaction will increase DAE’s fleet to 550 aircraft, valued at $20 billion
  • Global aviation services company is aircraft leasing major
  • Acquisition will increase fuel-efficiency of fleet

Dubai Aerospace Enterprise said an affiliate has signed an agreement to acquire the rights and interests of a portfolio of 64 Boeing 737 Max aircraft from a subsidiary of China Aircraft Leasing Group Holdings. 

The global aviation services company – which is one of the largest aircraft leasing companies in the world – said the portfolio includes 737-8, 737-9 and 737-10 variants. 

The delivery of the aircraft is scheduled between 2023 and 2026. Financial terms of the transaction were not disclosed.

“The transaction will increase the percentage of fuel-efficient aircraft in our owned fleet to 66 percent from 50 percent,” said DAE’s chief executive Firoz Tarapore.

It will further increase DAE’s fleet of aircraft to 550, valued at $20 billion.

“We look forward to growing this relationship even further in the coming years,” Tarapore added.

Nearly 20 percent of the acquired portfolio is on lease to airline clients; some are DAE’s existing clients.

“The remainder of the acquired portfolio of assets will be placed directly by DAE in the coming quarters,” the CEO said.

The transaction is expected to be closed in the third quarter of 2023. It is likely to have no impact on the company’s capital adequacy, liquidity and funding ratios.

Last December DAE signed unsecured-term financing for $800 million, which was underwritten by a “leading bank in the region”.

Latest articles

Saudi Arabia Pompidou Centre

Saudi Arabia donates $52m for Paris Pompidou Centre renovation

Saudi Arabia has agreed to donate €50 million ($52 million) towards the renovation of the Pompidou Centre, one of the landmark buildings in Paris.  Officially named Centre National d’Art et de Culture Georges Pompidou, the building is closing next year for five years for renovation works. Famous for its inside-out architecture and colourful exterior, it […]

ReNew Energy Global has a clean-energy portfolio of about 16.3GW and is one of India's major independent power producers

UAE-backed group to take India’s ReNew Energy private

A consortium including UAE-based investors plans to take the $2.4 billion Indian clean energy company ReNew Energy Global private. The group, comprising Abu Dhabi Investment Authority’s subsidiary Platinum Hawk, Masdar, Canada Pension Plan Investment Board and Sumant Sinha, founder and chairman of ReNew, have proposed $7.07 per share. This is a premium of 11.5 percent to the stock’s last close, […]

Operator Base Exchange says the new bourse's initial focus will be on companies already traded on Sao Paulo’s Bovespa (B3) stock exchange

Mubadala-backed Brazilian bourse targets 2025 debut

Brazil’s newest stock exchange, which is owned by Abu Dhabi’s Mubadala, is expected to begin operations in the second half of 2025, following a six-month testing phase. Base Exchange, the operator of the exchange, will initially trade equities, real estate funds and exchange-traded funds (ETFs) through its own clearing and settlement structure, Reuters reported, citing CEO Claudio […]

Morocco has manufactured one million vehicles annually, including four electric models, over the past two decades

Morocco partners with central African nations on EV plan

Morocco, the Democratic Republic of Congo (DRC) and Zambia have joined together to develop the infrastructure needed for electric vehicles (EVs), as they strive to lower their dependence on fossil fuels. The three nations will club their resources and experiences to support the development of EV batteries and battery precursors. Developing carbon-free transportation is essential […]