Dubai – Mubasher: Dubai Aerospace Enterprise (DAE) has announced that its leasing division, DAE Capital, signed three agreements to sell 16 aircraft worth AED 3.305 billion ($900 million).
The sold planes include Boeing 737 and Airbus A320, A330, and A350 aircraft, according to Reuters.
“Proceeds of the sale would be used to pay down debt and to support growth plans,” DAE’s CEO Firoz Tarapore commented.
The deal is expected to be closed in the second half of 2018.
The Emirati company’s CEO did not reveal the second party of the mega transaction.
