Dubai Aerospace Enterprise (DAE) has finalized agreements to purchase 23 aircraft from multiple parties for a total of approximately $1.1 billion, according to a company statement.
The average age of the aircraft portfolio at the time of purchase is 3.4 years, with an average remaining lease term of 8.8 years.
Currently, these aircraft are leased to 13 airlines across nine countries.
Narrow-body aircraft constitute 91% of the portfolio, while next-generation technology aircraft represent 86% of the new additions. Firoz Tarapore, CEO of DAE, noted the inclusion of six new airline customers following the acquisition.
“With the addition of these new aircraft, we anticipate a 4 percentage point improvement in our fleet of next-generation, fuel-efficient aircraft,” Tarapore added in the statement.
This strategic expansion underscores DAE’s commitment to enhancing its aviation assets and supporting global airline operations with modern, efficient fleets.
Dubai established itself as the premier destination for foreign direct investment (FDI) globally, topping the Financial Times Ltd’s ‘fDi Markets’ rankings for Greenfield FDI projects in 2023.
This marks the third consecutive year Dubai has maintained this position. The city leads worldwide in attracting Greenfield FDI projects across key sectors such as consumer goods, energy, e-commerce, and tourism, excelling in areas of project attraction, capital inflow, and job creation through FDI.
This achievement aligns with the objectives set forth in the Dubai Economic Agenda D33, inaugurated by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to double Dubai’s economy by 2033.
In 2023 alone, Dubai attracted 1,070 Greenfield FDI projects, significantly outperforming Singapore and London, which attracted 442 and 431 projects respectively. Over the last five years, Dubai’s share of the global Greenfield FDI market has surged from 1.7% in 2019 to 6% in 2023.
