Dubai Aerospace Enterprise Orders 15 Boeing 737-8 MAX Aircraft
Aircraft lessor Dubai Aerospace Enterprise has ordered 15 Boeing 737-8 MAX jets, growing their MAX portfolio to 37 aircraft. The company has been acquiring the aircraft through purchase and leaseback transactions, but this is their first direct order with Boeing.
On Tuesday (April 20, 2021), Boeing announced that aircraft lessor Dubai Aerospace Enterprise (DAE) has ordered 15 Boeing 737-8 MAX aircraft, increasing their MAX portfolio to 37 airplanes. DAE has been acquiring the jets through purchase and leaseback transactions with airlines, but today’s order marks the first direct purchase from Boeing. In the third quarter of 2020, DAE signed an agreement with American Airlines to purchase and lease back 18 new Boeing 737-8s and has since delivered 17 of the aircraft to the U.S. carrier. The company also previously concluded a similar agreement with the Brazilian carrier GOL for five 737-8s.
In Tuesday’s announcement, Dubai Aerospace Enterprise’s Chief Executive Officer, Firoz Tarapore, said,
“We are delighted to deepen our already strong relationship with Boeing. Including this order, we own and manage 162 Boeing aircraft . An increasing number of global aviation regulators are returning the MAX to the skies. We are confident in the success of these aircraft as domestic and regional air travel are seeing strong signs of recovery.”
Also commenting on the new order, Boeing’s Senior Vice President of Sales and Marketing, Ihssane Mounir, added,
“DAE has been instrumental in helping its customers realize the operating economics and environmental performance of the 737-8. We are delighted that they have come back to add more 737 aircraft to its growth plan as it positions itself for the recovery in commercial passenger traffic. We are honored by DAE's trust in the 737 family and we look forward to partnering with them to serve the fleet requirements of airlines around the world.”
The Boeing 737-8 MAX Family jet has been designed to provide enhanced fuel efficiency, reliability and flexibility in the single aisle aircraft market. The aircraft has a range of 3,550 nautical miles, an increase of approximately 600 miles over its predecessor, allowing airlines to offer new and more direct routes. Compared to the aircraft it replaces, the 737-8 delivers a 16 percent reduction in fuel burn, reduced emissions and lower operating costs.
Dubai Aerospace Enterprise (DAE) Limited is a global aviation services company headquartered in Dubai. The company serves over 170 airlines in more than 65 countries from seven offices in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle. DAE’s award-winning Aircraft Leasing division has an owned, managed, committed and mandated to manage fleet of approximately 425 Airbus, ATR and Boeing aircraft valued at over US$ 16 billion. The company’s Engineering division serves customers in Europe, the Middle East, Africa and Asia from their state-of-the-art facility which can accommodate up to 15 widebody and single aisle aircraft. DAE is authorized to work on 13 aircraft types and has regulatory approval from over 25 global regulators.
Boeing (NYSE:BA) is the world’s largest aerospace company and leading supplier of commercial airplanes, defense, space and security systems, as well as global services. The aerospace giant tops the list of the largest U.S. exporters, providing a significant positive impact to America’s annual GDP. Boeing supports government and commercial customers in over 150 countries and employs more than 160,000 team members worldwide. As Boeing continues to deliver for customers, they are committed to their legacy of aerospace leadership in technology and innovation and will continue investing in their people for future growth.