Dubai Aerospace Enterprise (DAE) has announced impressive financial and business results for 2024, marking significant achievements across its various sectors, from aircraft leasing to aviation engineering.

Financial Achievements:

• DAE Capital acquired a total of 83 aircraft, consisting of 30 owned aircraft and 53 managed aircraft.
• The company sold 68 aircraft, including 19 owned and 49 managed.
• A total of 233 leasing agreements, extensions, and amendments were signed for owned and managed aircraft.
• DAE signed long-term agreements to lease 17 Boeing 737 MAX aircraft with prominent international airlines such as Turkish Airlines, Eastar Jet, and Hainan Airlines.
• Additionally, agreements were signed for the purchase of 36 aircraft, amounting to a total value of $1.6 billion.

Engineering Department Achievements:

• The engineering department recorded over 1.5 million work hours and completed 300 aircraft inspections.
• Aircraft hangar capacity increased by 30%, with the number of service bays expanding to 22, including a dedicated bay for the A380 superjumbo.

Financial Partnerships and Credit Ratings:

• The company issued asset-backed securities worth $497.2 million.
• DAE secured an unsecured loan of AED 2.75 billion with a five-year repayment term.
• DAE received a BBB credit rating from Fitch and an upgrade to Baa2 from Moody’s.

CEO Statement:

Feroz Tarapor, CEO of Dubai Aerospace Enterprise, stated that the company successfully executed its strategy, reflecting its ongoing efforts to strengthen its global position in the aviation sector. He emphasized that the results for 2024 demonstrate DAE’s commitment to providing outstanding services in both aircraft leasing and engineering.

These accomplishments firmly position Dubai Aerospace Enterprise as a leading player in the global aviation sector, supported by continuous expansion and technological advancements across its services.