Dubai Aerospace Enterprise (DAE) has thrown its full backing behind the returning Boeing 737 Max 8 with a $1.8 billion order to acquire 15 of the aircraft.
The Max aeroplanes had been grounded following two crashes, by Lion Air in October 2018 and Ethiopian Airlines in March 2019, which claimed the lives of 346 passengers collectively.
However, they recently returned to the skies after receiving clearance from various regulators from around the world, including the General Civil Aviation Authority (GCAA), Federal Aviation Authority (FAA) and the European Union Aviation Safety Agency (EASA).
Firoz Tarapore, chief executive officer of DAE, said: “An increasing number of global aviation regulators are returning the Max to the skies. We are confident in the success of these aircraft as domestic and regional air travel is seeing strong signs of recovery.”
Firoz Tarapore, chief executive officer of Dubai Aerospace Enterprise (DAE)
The Dubai-based global aviation services company has 162 Boeing aircraft in its fleet. The 737 Max 8 is a member of the 737 Max family designed to offer more fuel efficiency, reliability, and flexibility in the single-aisle aeroplane market.
DAE recently announced an agreement to deliver 18 737 Max 8 aircraft to American Airlines.
“DAE has been instrumental in helping its customers realise the operating economics and environmental performance of the 737-8. We are delighted that they have come back to add more 737 aircraft to its growth plan as it positions itself for the recovery in commercial passenger traffic,” said Ihssane Mounir, Boeing senior vice president of commercial sales and marketing.
“We are honoured by DAE’s trust in the 737 family and we look forward to partnering with them to serve the fleet requirements of airlines around the world.”
Ihssane Mounir, Boeing senior vice president of commercial sales and marketing
In February, DAE revealed profits for last year of $584 million, down over 26 percent from the $791.7m reported in 2019.
DAE’s aircraft leasing division has an owned, managed, committed and mandated to manage fleet of approximately 425 Airbus, ATR and Boeing aircraft with a fleet value exceeding $16bn.
Follow us on
