Dubai – Mubasher: Dubai Aerospace Enterprise (DAE) on Monday announced that it has signed an agreement to sell 18 mid-life jets to institutional investors.
The move comes along with the Middle East's biggest plane-leasing company's strategy to expand its managed aircraft portfolio, according to the company’s statement.
“This transaction takes us one step closer to our stated goal of having $5 billion of managed aircraft assets,” Firoz Tarapore, chief executive of DAE, said.
DAE affirmed that it will continue to build its managed aircraft portfolio.
The company added that the planes are a mix of primarily narrow-bodies, widebodies, and turboprops on lease to 15 airlines in 13 countries.
