Dubai Aerospace Enterprise unit to sell nine aircraft worth $500m

DAE expects to close the sale of the narrow and wide-body aircraft this year. (Supplied)

• Aircraft leasing sector rebounds after pandemic slump

RIYADH: Dubai Aerospace Enterprise said that its leasing unit agreed to sell nine aircraft with a total market value of about $500 million.
DAE Capital expects to close the sale of the narrow and wide-body aircraft by 2021.
“The post-pandemic market for trading aircraft assets is robust,” said DAE Firoz Tarapore. “These transactions demonstrate DAE’s ability to originate and trade aircraft assets with a lease attached from high quality airline credits.”
After being hit hard by the collapse of global air travel last year, some leasing companies are now benefiting from ab upswing in demand as airlines restore capacity that was withdrawn when international travel restrictions were rolled out.
DAE serves about 170 airline customers in more than 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle.