Media ININ Economy We Trust
Media In Dubai – 17 December 2018
DAE has signed a final sale agreement to sell a portfolio of 18 medium-sized aircraft to institutional investors.
The 18 aircraft in the portfolio are leased to 15 airlines in 13 countries and have a life expectancy of about 9 years with an average residual lease of more than 4 years.
The portfolio consists of 69% of the narrow-body aircraft of the current generation, 24% of the large-body aircraft, and 7% of the ATR72-600 aircraft.
DAE will manage the aircraft portfolio.
“This transaction brings us closer to our stated goal of having $ 5 billion of managed aircraft assets as investors increasingly recognize the value of the DAE platform and thus give us confidence in asset management,” said Fayrouz Tarapur, CEO of DAE. Adding that the company has so far succeeded in exceeding the expectations of investors in all the portfolios it manages.
