#UAE aircraft lessor DAE secured 125 lease deals, extensions in 2020 | ZAWYA MENA Edition

UAE aircraft lessor DAE secured 125 lease deals, extensions in 2020 | ZAWYA MENA Edition

Dubai Aerospace delivers first of 18 Boeing 737 MAX 8 aircraft to American Airlines. Image courtesy Dubai Media Office Twitter handle.


Dubai Aerospace Enterprise (DAE), one of the world’s biggest aircraft lessors, secured a total of 125 lease agreements and extensions in 2020.

The leasing company, which is owned by sovereign wealth fund Investment Corporation of Dubai, also reported at least 55 new underwriting aircraft purchase commitments for the whole year.

The business transactions are part of the full-year 2020 report for the company’s aircraft leasing division, DAE Capital.

The company had said earlier it was looking to land more purchase and leaseback deals with airlines despite a massive decline in air traffic in 2020.

Last December, it delivered the first of 18 Boeing 737 MAX 8 jets to American Airlines.

DAE also reported that total bond repurchases and share repurchases last year amounted to $192 million and $350 million, respectively.