Aerospace corporation and aircraft lessor Dubai Aerospace Enterprise (DAE) announced today that it had substantially completed a sale-and-leaseback deal for 18 new Boeing 737 MAX aircraft for American Airlines. The company, owned by Emirates’ CEO, says the transaction reflects its belief in the product strength of the MAX 8 aircraft.
Deal from Q3 last year
The deal was signed between the two parties in the third quarter of 2020. The first of the new jets was delivered in December last year. After an initially tight schedule with up to two planes per day, the space between deliveries stretched in the new year.
“This transaction reflects our agility, our balance sheet strength, our underwriting capability, our ability to assist one of our long-term customers, and our belief in the product strength of the 737 MAX 8 aircraft,” DAE’s Chief Executive Officer, Firoz Tarapore, said in a statement shared with WAM.
Mr Tarapore further added that he was pleased to see an increasing number of global regulators returning the MAX to the skies. Meanwhile, Ihssane Mounir, Senior Vice President of Commercial Sales and Marketing at Boeing stated that,
“DAE is putting their purchasing strategy and growth plan in action and helping operators during this challenging time in our industry. We are delighted to once again partner with DAE to support a valued customer such as American Airlines and we are honoured by their trust and confidence in the Boeing 737 family.”
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