DAE to acquire 64 Boeing 737 MAX aircraft

Dubai Aerospace Enterprise (DAE) Ltd has signed a pact to acquire the rights and obligations of a portfolio of 64 Boeing 737 MAX aircraft from a wholly owned subsidiary of China Aircraft Leasing Group Holdings Limited. Firoz Tarapore, CEO, DAE said, “We are delighted to be able to conclude this transaction with CALC to acquire a unique portfolio of 100 per cent new technology, fuel efficient single aisle aircraft. This transaction will increase the percentage of new technology, fuel efficient aircraft in our owned fleet to approximately 66 per cent from 50 per cent. Powered by CFM International LEAP-1B engines and advanced technology winglets, the 737 MAX reduces fuel use and emissions by 20 per cent compared to airplanes it replaces.