DAE posts 2018 performance

Lauren Eldershaw
By Lauren Eldershaw January 15, 2019 16:41

DAE posts 2018 performance

Dubai Aerospace Enterprise (DAE) has stated that its 2018 key strategic and operational highlights for its leasing division, DAE Capital, were crowned by the receipt of an investment grade corporate credit rating of BBB+ from KBRA and received an upgrade of existing corporate credit ratings from Moody’s and S&P Global. Also during the year, the lessor issued US$3bn of new unsecured debt; announced a debt repurchase program of up to US$600 million, and took delivery of its first five Boeing 737 MAX 8 aircraft.

As of the end of 2018, DAE Capital has a portfolio of 354 owned, managed and committed aircraft, with 109 customers in 57 countries. The average age of its owned fleet is 5.9 years with an average lease term of 6.4 years. Also over the past year, DAE Capital purchase 28 new aircraft, sold 50 aircraft and completed 50 lease transactions.

Lauren Eldershaw
By Lauren Eldershaw January 15, 2019 16:41