Dubai Aerospace Enterprise (DAE), a global leader in aviation services, has released its business and operational highlights for 2024, showcasing significant growth across its divisions: The DAE Company comprises of DAE Capital and DAE Engineering.
Strategic Successes in Aircraft Leasing and Management
DAE Capital, one of the top ten global aircraft lessors, reported robust activity in 2024:
- Sold 30 aircraft and had 53 owned and managed.
- Delivered 68 commercial aircraft which are 19 possessed and 49 managed.
- Concluded 233 of lease, renewals and variations.
- LEASING ON 17 BOEING 737 MAX AIRCRAFT Lease agreements for a minimum term of 12 years with options to purchase were signed with Turkish Airlines, Eastar Jet and Hainan Airlines Firm commitments for «fluid’ aircraft orders.
- Pen launched purchase agreements for 36 aircrafts which are valued $1.6 billion.
- Arranged a US $ 497, 200, 000 two-sold aircrafts assets back for a managed asset procurer.
Innovations of the Maintenance Repair and Operations (MRO)
DAE Engineering achieved remarkable milestones in 2024, including:
- Scheduling to work over more than 1.5 million man-hours.
- Performing over 300 aircraft checks and the rest of the checks we shall see later on.
- Increasing the hangar parking capability by 30%, the number of bays, 22, one of which is designed for the A380 aircraft.
- Expanding capacity and capabilities of automotive shop to deepen customer relationships with both Joramco and Spirit AeroSystems.
Group Results for the period and Industry Awards
DAE had acquired a credit facility of AED 2.75 billion under the 5-year unsecured term loan from a GCC lender. Fitch Ratings giving the company BBB credit rating and Moody’s giving the company Baa2 credit rating: Capital and liquidity management.
On the occasion, the CEO of DAE Firoz Tarapore said, “The year 2024 was a year of outstanding operationalization and advancement of its plans to strengthen its global franchise. Budgets used our metrics to validate DAEs niche in the provision of aviation services.”
With innovation as its motivation and market penetration as its objective, the following are some of the success that DAE posted in 2024, which proves it being an industry player in the aviation industry.
