DAE to acquire Sky Fund I

Dubai Aerospace Enterprise (DAE) has signed a definitive agreement to acquire 100% of Sky Fund I Irish, Ltd. and its subsidiaries from SKY Leasing. The terms of the transaction were not disclosed. Sky Fund I portfolio comprises 36 owned and committed aircraft on lease to 14 airline customers in 11 countries. The portfolio is more than 90% next generation technology aircraft. DAE’s Chief Executive Officer, Firoz Tarapore, said: “We are delighted to acquire this unique portfolio of new technology, fuel-efficient aircraft on lease to 14 airlines, including six new airline customers for DAE. This transaction will allow us to continue