DAE to complete 737 Max 8 mandate | News | Airfinance Journal

DAE to complete 737 Max 8 mandate

Dubai Aerospace Enterprise (DAE) is nearing the completion of the delivery of 18 new Boeing 737 Max 8 aircraft to American Airlines.

This forms part of a purchase and leaseback agreement signed in the third quarter of 2020 between the two parties to take delivery of the already assembled aircraft.

“This transaction reflects our agility, our balance sheet strength, our underwriting capability, our ability to assist one of our long-term customers and our belief in the product strength of the 737 Max 8 aircraft. We are delighted to see an increasing number of global aviation regulators return the Max to the skies,” said DAE’s chief executive officer, Firoz Tarapore.

The 737 Max resumed operations in the USA in December last year after a 21-month grounding.

Of the 40 737 Maxs currently in American’s fleet, nine 737 Max 8s remain in storage, Airfinance Journal’s Fleet Tracker shows.

United Airlines also plans to add 21 737 Max aircraft to its fleet in 2021 and has increased its orderbook, which will bring its fleet total of the type to 180 in the coming years.

Transaction SnapshotAmerican Airlines | Sale leaseback | 03-21 | $850m | 18x737 Max

Financial Close:
22/03/2021
Value:
$850.00m USD
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