Dubai's DAE inks freighter aircraft deal with Russian carrier

Dubai Aerospace Enterprise signs agreement with Moscow-based cargo airline AirBridgeCargo
Dubai's DAE inks freighter aircraft deal with Russian carrier
By Sam Bridge
Wed 19 Jun 2019 01:39 PM

Dubai Aerospace Enterprise (DAE) on Wednesday announced that its leasing division DAE Capital and Moscow-based cargo airline AirBridgeCargo have entered into a purchase and leaseback agreement for freighter aircraft.

The deal is for three factory new Boeing 777 freighter aircraft which will be the first of this type to enter AirBridgeCargo’s fleet in 2020.

Firoz Tarapore, DAE’s CEO, said: “We are delighted to welcome AirBridgeCargo as our newest customer and to be in a position to facilitate them with their fleet requirements as they expand their fleet diversification with this particular type.

"DAE Capital is the world’s largest lessor of 777F aircraft, and our long-term experience with this aircraft type helped in executing this agreement swiftly. We look forward to a long and rewarding relationship with AirBridgeCargo as they continue to grow their successful operations.”

Aleksey Isaikin, president of Volga-Dnepr Group, which owns AirBridgeCargo, added: “Our agreement with Dubai Aerospace Enterprise marks an important moment in our history as we welcome the first Boeing 777 freighters into our fleet.

"These aircraft will support our strategy of broader fleet diversity and modernization, allowing us to deliver a more cost-efficient product to our customers.”

DAE currently has 15 owned and committed Boeing 777 freighters.

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.