Dubai Aerospace Enterprise, the Dubai aircraft lessor, added 19 jets to its portfolio over the course of 2018, taking its total managed fleet to 54, valued at more than $500 million (Dh1.83 billion).
In December, DAE agreed to sell 18 jets to institutional investors as part of plans to divest certain assets in order to grow its managed aircraft portfolio. The Middle East’s biggest plane lessor is also working with investors through its new Aircraft Investor Services (AIS) division to identify portfolios suited to their needs and the demands of the market, it said on Monday.
“DAE has listened to the investor community to discern what investors need in an aircraft manager,” said Firoz Tarapore, chief executive of DAE.
“Investors tell us they want a capable and time-tested platform that is continuously active in the marketplace with strong service standards and direct access to skill sets within the platform so they can make better, more timely decisions regarding their aircraft assets.”
AIS was set up last January as an asset management arm intended to offer investors access to the full range of expertise within DAE, including in asset re-marketing, asset valuation, asset disposition strategy, maintenance condition forecasting and valuing, asset surveillance and credit analysis. The division aims to build a $5bn portfolio of assets in the coming years.
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“The combination of DAE’s top tier leasing platform with a service offering dedicated to providing a suite of bespoke services suited to individual investor needs sets DAE apart,” Mr Tarapore said on Monday. “We are pleased to have achieved substantial growth in the short year since we launched our AIS offering.”
The planes DAE agreed to sell to undisclosed customers last month are a mix of narrow bodies, wide bodies and turboprops, on lease to 15 airlines in 13 countries. DAE will continue to service the portfolio, the company said.