Dubai Aerospace Enterprise (DAE) Ltd. announced that it has delivered the first of 18 Boeing 737 MAX 8 aircraft to American Airlines as part of the Purchase and Leaseback agreement signed with American in the third quarter of this year. Delivery of the remaining aircraft is expected to be completed in the coming months.
Firoz Tarapore, Chief Executive Officer of DAE commented:
“We are delighted to be in a position to offer a meaningful solution to American Airlines, a long-term customer of DAE, and to see the Boeing 737 MAX return to service. We are also pleased to further invest in these technologically advanced and fuel-efficient aircraft types in line with our commitment to environmental sustainability. The Boeing 737 MAX boasts superior fuel efficiency and reduced emissions and noise pollution, underpinning DAE’s commitment to transition its fleet to newer technology assets, reducing the environmental impact of our business and supporting DAE’s customers’ ambitions to become more sustainable operators. Our owned and committed fleet includes 22 Boeing 737 MAX 8 aircraft.”
Meghan Montana, American’s Vice President and Treasurer said:
“We’re pleased with DAE’s ability to help create a purchase and leaseback solution for these 18 aircraft. DAE’s ability to facilitate an agreement of this size in today’s environment is a testament to their reputation and their confidence in American Airlines, and we look forward to a successful, ongoing partnership.”