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Tue 30 Dec 2008 07:30 AM

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Aircraft leasing company expands fleet

DAE Capital to acquire two Boeing 777s, deal agreed with Air New Zealand.

Aircraft leasing company DAE Capital has expanded its fleet after agreeing to acquire two Boeing 777s in a sales and leaseback deal.

The subsidiary of Gulf-based aviation group Dubai Aerospace Enterprise will acquire the Boeing 777-319ERs from Air New Zealand. It will then lease them back to the Kiwi carrier on 12 year leases.

US aircraft manufacturer Boeing is expected to deliver both planes between January and March 2011.

“In a short space of time, DAE has grown to represent a major force in the aerospace sector, and this latest agreement is testament to the trust and confidence operators have in our world-class leasing capabilities,” said Dr. Omar Bin Sulaiman, DAE Group managing director.

DAE Capital’s leasing fleet numbers 33 aircraft, with a further 200 Boeing and Airbus planes on order.

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