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INFRASTRUCTURAL DEVELOPMENT - DUBAI AEROSPACE ENTERPRISE

DAE reports record revenue and net income for full year 2014

Posted on 21/04/2015

Dubai Aerospace Enterprise, DAE, has reported net income for 2014 of US$159.5 million (Dh 586 million), an increase of 43% from US$111.6 million (Dh 410 million) in 2013. Revenue for full year 2014 increased to US$2,112 million (Dh 7,761 million) from US$2,105 million (Dh 7,735 million) for full year 2013. Khalifa H. Al Daboos, DAE Managing Director, said, "The 2014 financial results reflect a sharp improvement in the profitability of the company. The DAE Engineering division improved its ...  >>MORE

DAE, Azul announce completion of Sale Leaseback Transactions

Posted on 27/01/2015

Dubai Aerospace Enterprise, DAE, and Azul Brazilian Airlines, yesterday announced that they had recently completed delivery of 5 ATR 72-600s to the airline. DAE Managing Director, Khalifa H. Al Daboos, said, "We are delighted to include AZUL as one of DAE's new clients in Latin America. We look forward to a mutually rewarding long-term relationship with Azul in this rapidly expanding market. We intend to continue to develop our business and increase our fleet through sale and lease-backs of ...  >>MORE

US$1b order for turboprop aircraft by DAE

Posted on 13/02/2014

Dubai Aerospace Enterprise (DAE) is to spend up to US$1 billion on new turboprop planes, the aircraft leasing company said on Wednesday, betting on growth in Asia's crowded regional and domestic markets. Government-owned DAE has turned to turboprops used for short-haul trips for fewer than 100 passengers. Such aircraft can be operated more efficiently than many jets, particularly in an era of high oil prices. DAE, the largest aircraft leasing company in the Middle East, said it had ordered 20 ...  >>MORE

Dubai Aerospace Enterprise confirms holding talks with BBA on potential combination of certain parts of its business

Posted on 27/08/2013

Dubai Aerospace Enterprise (DAE) Ltd. confirmed it is in preliminary discussions with BBA Aviation plc. regarding a potential combination of certain parts of its business. There are no other details on this matter at this time. Dubai Aerospace Enterprise (DAE) Ltd is a globally recognised aerospace company specialising in maintenance, repair and overhaul (MRO) services, aircraft completions and aircraft leasing. The Company is headquartered in Dubai and operates in four continents and employs ...  >>MORE

DAE, lenders reach credit facility deal

Posted on 20/07/2011

Dubai Aerospace Enterprise (DAE) announced on Tuesday that it had successfully concluded discussions with its existing lenders and reached agreement on a new, 4-year credit facility to replace the existing credit facility maturing on July 23, 2011. The statement did not provide the amount of the credit facility or any terms related to the deal. Dubai Aerospace Enterprise (DAE) Ltd is a globally recognised aerospace company specialising in maintenance, repair and overhaul (MRO) services, ...  >>MORE

DAE posts net income of US$10.3m for full-year 2010

Posted on 24/05/2011

Dubai Aerospace Enterprise (DAE) posted a consolidated net income of US$10.3 million (Dh37 million) for full-year 2010, the company said yesterday in a statement. Net income excluding non-recurring items for the period was US$38.8 million (Dh142.6 million), an increase of 708 per cent over US$4.8 million (Dh17.6 million) net income (excluding non-recurring items) in full-year 2009. Meanwhile, the revenue of the global aerospace manufacturing and services company increased to US$1.61 billion ...  >>MORE

Dubai Aerospace back in black

Posted on 02/05/2011

Dubai Aerospace, whose leasing unit cancelled a major Airbus order in March, made a profit of US$10.4 million in 2010 amid higher revenues, an earnings statement showed on Sunday. The Dubai-based aircraft leasing firm swung to profit after it reported a loss of US$21.1 million in 2009, one of its shareholders, DIFC Investments, said in a statement to the bourse. Revenues rose slightly in 2010 to US$1.6 billion from US$1.57 billion in the prior-year period. DIFC Investments, which posted a ...  >>MORE

DAE leases two 737-700 Aircraft to Turkish Airlines

Posted on 17/11/2009

DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), has leased two 737-700 Aircraft to THY Turkish Airlines. The aircraft leased to Turkish Airlines will be operated by their LLC subsidiary Anadalou Jet until March and April 2015 respectively. DAE Capital's fleet currently comprises 37 single aisle and wide-body aircraft. Furthermore, it has an additional 24 aircraft contracted of which 15 are on a purchase and lease back basis. DAE Capital has ...  >>MORE

Dubai Aerospace Enterprise selects IAE V2500 to power 20 new Airbus A320s

Posted on 16/11/2009

Dubai Aerospace Enterprise (DAE) and IAE International Aero Engines yesterday announced that DAE Capital, the aircraft leasing and financial business arm of DAE, has selected the V2500 SelectOne engine to power 20 new Airbus A320 Family aircraft. The value of this business is $340 million at list price and deliveries are scheduled to begin in 2011. These 20 aircraft are part of a 70-aircraft order the leasing company announced in July 2008. George Mushahwar, Acting Chief Executive Officer, ...  >>MORE

DAE delivers second Boeing 737-800 NG to Garuda

Posted on 10/11/2009

DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), delivered last week in Jakarta, Indonesia the second Boeing 737-800 Next-Generation aircraft to Garuda the national flag carrier of Indonesia. The delivery follows the first which was delivered earlier in August of this year. It is one of eight new B737-800 aircraft to be delivered to Garuda between June 2009 and April 2010. H.E. Dr. Omar Bin Sulaiman, DAE Group Managing Director, said: "DAE's ...  >>MORE

DAE Capital delivers advanced Boeing to Garuda

Posted on 03/08/2009

DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), celebrated last week in Jakarta the delivery of the first Boeing 737-800 Next-Generation aircraft to Garuda, the national flag carrier of Indonesia. The delivery is one of eight new B737-800 aircraft to be delivered to Garuda between June this year and April next year. Dr Omar Bin Sulaiman, DAE Group Managing Director, said: "DAE's delivery of the first B737-800 aircraft to Garuda highlights ...  >>MORE

DAE secures funds for 9 Aircraft

Posted on 18/06/2009

DAE Capital, the aircraft leasing financial business arm of Dubai Aerospace Enterprise (DAE), handed over the second Boeing 777 Freighter to Emirates SkyCargo last week. Six more Boeing 777 Freighters are expected to be delivered to DAE between 2009 and 2014. HH Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates Airlines and Group, said: "Emirates has been satisfied with the performance of the Boeing 777F since it joined our fleet. It is proving to be the most efficient ...  >>MORE

DAE in US$500m financing deal with US Ex-Im Bank

Posted on 02/05/2009

DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), said yesterday it has signed a financing agreement worth over US$500 million (Dh1.83bn) with US-based Export-Import Bank, to support the purchase of 10 Boeing aircraft. The financing deal will support the delivery of these aircraft by guaranteeing commercial loans or providing the loan itself, DAE said in a statement, adding that the aircraft will be allocated for purchase and leaseback agreements ...  >>MORE

UAE pioneer in Arab space world

Posted on 14/04/2009

The UAE is forging ahead with the development of a national space industry and its pioneering role can help accelerate the establishment of a Pan Arab space agency, which would reduce the cost of sending satellites into orbit. The recent announcement by Abu Dhabi based 4C GEOC for a US$1billion dollar Earth Observation Space Centre, Yahsat's planned telecommunication satellites launches and the scheduled launch this summer of the UAE's first ingeniously built remote sensing satellite, ...  >>MORE

DAE plans to purchase 50 aircraft worth US$2.5 billion

Posted on 02/06/2008

Dubai Aerospace Enterprise (DAE) said it was in talks to buy 50 aircraft worth a total of about US$2.5 billion (Dh9.1bn) to expand its leasing business. DAE, which last year ordered up to US$13.5 billion of aircraft from Airbus, is looking to buy single- and twin-aisle planes over the next 18 months, including Boeing 777s and Airbus A330s, Bob Genise, CEO of DAE Capital, said yesterday. "Despite the rise in jet fuel prices, there are pockets of strong performance," he said. DAE Capital could ...  >>MORE

DAE announces strategic partnership with MIT

Posted on 29/04/2008

Dubai Aerospace Enterprise University (DAE University), has announced a strategic partnership with the Massachusetts Institute of Technology (MIT) Global Airline Industry Program to introduce global best practices in its aviation curriculum and promote region-specific research on the aviation and aerospace industry. DAE University is the education and training arm of Dubai Aerospace Enterprise (DAE). Through the pioneering regional collaboration, which is expected to be a multi-year program, ...  >>MORE

DAE buys Austrian air software firm

Posted on 12/03/2008

Dubai Aerospace Enterprise (DAE) said it bought Austria's Flugwerkzeuge Aviation Software (f:wz), a privately held company that develops and distributes flight-planning software for airlines, for $25 million. "Airlines are suffering from record high fuel prices and are looking for better technologies that will ease the burden," Kamilia Sofia, acting chief executive of DAE unit DAE Services, said in a statement on Tuesday, adding that f:wz offered "solutions that deliver immediate and ...  >>MORE

DAE boosts deals to Dh106b

Posted on 15/11/2007

DAE Capital, the aircraft leasing subsidiary of Dubai Aerospace Enterprise, yesterday boosted its total aircraft deals to Dh106 billion (US$29 billion). Taking Centre stage at the Dubai Air Show, which saw mega deals worth more than Dh250 billion signed by Gulf based airlines and companies, DAE Capital signed a US$1 billion acquisition of 20 narrow and wide-body aircraft from GE Commercial Aviation Services (GECAS) in a deal comprising Boeing 737 next generation series and Airbus A320 series ...  >>MORE

DAE to buy 100 planes from Boeing for US$13.7b

Posted on 13/11/2007

Dubai Aerospace Enterprise (DAE) on Monday signed a purchase agreement for 100 aircraft worth US$13.7 billion from US plane manufacturer Boeing. The deal came just hours after DAE, the aero-space, manufacturing and services corporation, signed an initial agreement to buy as many as 100 aircraft from European plane-maker Airbus for US$13.5 billion. DAE capital, DAE Group's aircraft leasing and financing business, aims to be one of the largest aircraft leasing businesses in the Middle East ...  >>MORE

DAE to build maintenance facility at new airport

Posted on 25/10/2007

Dubai Aerospace Enterprise will build a maintenance, repair and overhaul (MRO) facility to cater to a massive influx of new airlines and charter carriers expected for Dubai World Central Airport, its chief executive said yesterday. Bob Johnson said the facility would have a "significant" footprint at the new airport, but said final plans have not yet been completed. The Dubai government is building World Central at a cost of $30 billion to accommodate 120 million passengers annually. DAE, a ...  >>MORE

DAE expects to generate over US$500m in revenues

Posted on 22/10/2007

Dubai Aerospace Enterprise (DAE) will generate more than US$500 million in revenues in 2007 through its recently acquired subsidiaries and will likely triple the following year, according to the company. Since it was formed in February 2006, the state-backed aerospace conglomerate has spent more than US$2 billion acquiring three aircraft maintenance, repair and overhaul firms in Switzerland and the United States. DAE purchased a 30 per cent stake in Swiss firm SR Technics in September 2006. ...  >>MORE

DAE to sign deal for 30 aircraft within six weeks

Posted on 04/10/2007

Dubai Aerospace Enterprise (DAE) will sign in four to six weeks deals to acquire 30 aircraft as part of a plan to build a fleet of 125 planes within five years, the company's aircraft leasing business head said. These purchases will be in the secondary market and involve up to four transactions, DAE Capital's chief executive officer Bob Genise told Gulf News in an interview."I hope to have them done in another four to six weeks. If all goes well, I would like to have (deals for) 30 aircraft ...  >>MORE

DAE to buy US$1.5b worth of aircraft

Posted on 25/09/2007

Dubai Aero-space Enterprise (DAE) is close to agreeing the purchase of US$1.5 billion of aircraft, kick-starting its plane leasing business to compete with global players such as GE, an executive said. DAE, which this month dropped its US$1.8 billion bid to take over New Zealand's Auckland International Airport, is in talks with Boeing and Airbus about buying as many as 125 aircraft for delivery from 2010, Bob Genise, chief executive of DAE's aircraft leasing unit, said. The unit, DAE ...  >>MORE

Dubai scraps bid for Auckland Airport

Posted on 06/09/2007

Dubai Aerospace Enterprise scrapped its NZ$2.6 billion ($1.8 billion) offer for a majority stake in Auckland International Airport on Thursday, but is expected to return with a fresh bid for a smaller stake. The decision followed a public outcry against foreign control and a lack of support from smaller shareholders, but an analyst said Dubai should not be counted out of the picture to rival other bidders for up to 49 per cent of the airport. "They'll come back with an all-cash offer and it ...  >>MORE

DAE sticks to its bid for Auckland Airport

Posted on 17/08/2007

Dubai Aerospace Enterprise (DAE) is not likely to revise its bid of NZUS$2.6 billion (Dh7.3bn) for Auckland International Airport, but will initiate talks with all shareholders, including Infratil, to pave the way for its offer to succeed, a top company executive said yesterday. In a joint investment with the New Zealand Super Fund, Infratil, a utilities investor based in Wellington, said yesterday it now holds 6.2 per cent of the airport company. Combined with the 23 per cent stake held by ...  >>MORE

DAE's Auckland bid receives big boost

Posted on 09/08/2007

New Zealand's trade minister clarified his views on Dubai Aerospace Enterprise's US$2 billion offer for Auckland Airport, raising hopes that the sale will have enough support for approval. Trade Minister Phil Goff said earlier comments about his opposition to the deal were referring to his hope that the 22 per cent of airport shares owned by two New Zealand city councils would remain in public hands, according to Kiwi press accounts. Currently, Auckland International Airport Ltd. (AIAL) is ...  >>MORE

DAE's Auckland bid hits hurdle

Posted on 07/08/2007

Dubai Aerospace Enterprise (DAE) is running up against political opposition to its bid for the Auckland International Airport, according to a New Zealand newspaper. The New Zealand government is against the proposed sale of the airport to DAE, the newly-formed $15 billion aviation conglomerate, and its trade minister said the deal could be "against national interests," reported the New Zealand Herald yesterday. "The government's view is very much in line with that of 80 per cent of the ...  >>MORE

Dubai Aerospace Enterprise completes Dh7b US deal

Posted on 05/08/2007

Dubai Aerospace Enterprise (DAE), Dubai's Dh55 billion investment vehicle for the aviation industry, has completed its acquisition of US-based Standard Aero and Landmark Aviation for Dh7 billion (US$1.9 billion) after a four-month review, the company said on Thursday. DAE, owned by the Dubai Government, purchased the aircraft maintenance, repair and overhaul firms from the Carlyle Group, a US private equity firm. Robert Mionis, chief executive of DAE's manufacturing and engineering divisions, ...  >>MORE

DAE explores acquisitions in E. Europe

Posted on 30/07/2007

Dubai Aerospace Enterprise (DAE), Dubai's US$15 billion aviation investment group that agreed to buy Auckland International Airport, is reportedly exploring an airport project in Europe as it sets out to build an international network. "There will be something in Europe," Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAE, was quoted by Business Intelligence Middle East (BI-ME). DAE, formed last year with a goal of becoming a US$15 billion airport and aviation services company, agreed in ...  >>MORE

DAE wins board endorsement to acquire stake in Auckland airport

Posted on 24/07/2007

The directors of Auckland International Airport Limited (AIAL) today announced a proposed transaction with Dubai Aerospace Enterprise (DAE) which would see DAE acquire an interest between 51 per cent and 60 per cent in the AIAL business and become a strategic partner. Under the proposal, AIAL shareholders will receive value of up to NZ$3.80 per share. The directors of AIAL have unanimously recommended the proposed transaction. This decision was reached in the absence of a superior proposal. ...  >>MORE

Dubai Aerospace bids for stake in NZ airport

Posted on 23/07/2007

Wellington - State-backed Dubai Aerospace Enterprise Ltd. offered to pay up to NZ$2.6 billion ($2.08 billion) for a controlling stake in New Zealand's Auckland International Airport Ltd., which was backed by the airport's board, sending its shares up around five per cent on Monday. Under the offer, which values the whole of Auckland Airport at NZ$5.6 billion ($4.5 billion), a new company will be created in which DAE will have a stake of 51 to 60 percent. DAE was set up last year by the ...  >>MORE

Dubai Aerospace Enterprises signs strategic agreement with Boeing

Posted on 19/06/2007

Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, today signed a memorandum of understanding (MoU) to forge a strategic partnership with Boeing. The two companies are to evaluate the benefits of forming a strategic long term collaboration where their dual expertise in aircraft services, customer education, financing and maintenance, repair and overhaul (MRO) operations can be harnessed. Under the agreement, Boeing and DAE will form a joint ...  >>MORE

DAE arranges funds for US$1.8b US buyouts

Posted on 11/06/2007

Dubai Aerospace Enterprise Ltd (DAE) said yesterday it has arranged funding for its planned US$1.8 billion take-over of two aircraft-servicing companies in the United States. DAE will buy Standard Aero Holdings and Piedmont/Hawthorne Holdings from private equity firm Carlyle Group for US$1.8 billion, according to a regulatory filing on April 2. The deal still needs US government approval. "The funding for that transaction is complete," Michael Killian, DAE's treasurer said. "It's not all ...  >>MORE

DAE expects US$7b sales in two years

Posted on 26/04/2007

Dubai Aerospace Enterprise (DAE), the government's Dh55 billion mammoth undertaking to create an aviation finance and maintenance hub, has all six business units up and running and expects to earn US$7 billion in sales within two years, its chief executive said yesterday. "We expect to be making US$6-US$7 billion or more two years from now," said CEO Bob Johnson. The US$15 billion Dubai-based firm, which aspires to become a global aviation conglomerate, has a mixed development approach ...  >>MORE

DAE to seek CFIUS review for US buys

Posted on 03/04/2007

Dubai Aerospace Enterprise (DAE) yesterday said it has agreed to buy two US aviation maintenance, repair and overhaul (MRO) companies – Standard Aero Holdings and Landmark Aviation – from the Carlyle Group for US$1.8 billion (Dh6.6bn). "DAE has signed an agreement with the Carlyle Group regarding the purchase of Standard Aero and Landmark Aviation, two North American MRO companies,” a statement from the US$15 billion (Dh55.07bn) airport and aviation services company said. DAE will place ...  >>MORE

DAE in talks to buy US aero assets

Posted on 21/03/2007

New York - Dubai Aerospace Enterprise (DAE) is nearing a deal to buy a series of aviation businesses from US private equity firm Carlyle Group for more than US$1.5 billion, a source familiar with the matter said. As part of the agreement, DAE would buy Landmark Aviation, an aircraft maintenance provider, and Standard Aero, which provides repair and overhaul services at airport terminals for small-jet aviation and some military transports, according to the source. Carlyle declined to comment ...  >>MORE

Dubai Aerospace Enterprise to sponsor initiatives at Farnborough

Posted on 21/06/2006

Dubai Aerospace Enterprise (DAE), the recently launched US$15 billion global aerospace company, is to sponsor two key initiatives at this year's Farnborough International Airshow - the newly introduced International Youth Day and the daily Airshow flying display. Running from 17th -23rd July in the United Kingdom, the Farnborough International Airshow, which is expected to attract more than 130,000 visitors, is regarded as the largest aerospace exhibition in the world. The sponsorship of ...  >>MORE

Dubai Aerospace will buy 50 aircraft to lease out in the region

Posted on 08/03/2006

Dubai Aerospace Enterprise (DAE) is planning to buy 50 aircraft for lease to local and regional airlines and may purchase the fleet within two years. DAE has also begun negotiations with manufacturing giants General Electric, Boeing and Airbus to enlist them as partners in the project. Sameer Al Ansari, Executive Director of Dubai International Capital (DIC), one of the incorporating companies of Dubai Aerospace Enterprise, said that how quickly DAE can act upon its business plan would ...  >>MORE

Dubai Aerospace Enterprise announces consortium to launch airport development

Posted on 24/02/2006

Singapore - Dubai Aerospace Enterprise (DAE), the recently launched global aerospace company, today signalled the start of its commercial roll-out with the announcement of a partnership between its DAE Airports subsidiary and a six-strong consortium representing the premier league of the emirate's businesses. A Memorandum of Understanding (MoU) signed by each party to the agreement at the Asian Aerospace trade show in Singapore earlier yesterday, will see DAE Airports take the lead in ...  >>MORE

Dubai unveils US$15billion investment in global aerospace industry

Posted on 20/02/2006

Dubai yesterday announced the formation of Dubai Aerospace Enterprise (DAE), an investment vehicle to channel US$15 billion into creating a global aerospace manufacturing and services corporation. An agreement to establish the company was signed today by the founders in the presence of HH Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice-President, Prime Minister and Ruler of Dubai. DAE will become the holding company for six operational subsidiaries involved in manufacturing and services ...  >>MORE

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Quick List

DAE reports record revenue and net income for full year 2014


DAE, Azul announce completion of Sale Leaseback Transactions


US$1b order for turboprop aircraft by DAE


Dubai Aerospace Enterprise confirms holding talks with BBA on potential combination of certain parts of its business


DAE, lenders reach credit facility deal


DAE posts net income of US$10.3m for full-year 2010


Dubai Aerospace back in black


DAE leases two 737-700 Aircraft to Turkish Airlines


Dubai Aerospace Enterprise selects IAE V2500 to power 20 new Airbus A320s


DAE delivers second Boeing 737-800 NG to Garuda


DAE Capital delivers advanced Boeing to Garuda


DAE secures funds for 9 Aircraft


DAE in US$500m financing deal with US Ex-Im Bank


UAE pioneer in Arab space world


DAE plans to purchase 50 aircraft worth US$2.5 billion


DAE announces strategic partnership with MIT


DAE buys Austrian air software firm


DAE boosts deals to Dh106b


DAE to buy 100 planes from Boeing for US$13.7b


DAE to build maintenance facility at new airport


DAE expects to generate over US$500m in revenues


DAE to sign deal for 30 aircraft within six weeks


DAE to buy US$1.5b worth of aircraft


Dubai scraps bid for Auckland Airport


DAE sticks to its bid for Auckland Airport


DAE's Auckland bid receives big boost


DAE's Auckland bid hits hurdle


Dubai Aerospace Enterprise completes Dh7b US deal


DAE explores acquisitions in E. Europe


DAE wins board endorsement to acquire stake in Auckland airport


Dubai Aerospace bids for stake in NZ airport


Dubai Aerospace Enterprises signs strategic agreement with Boeing


DAE arranges funds for US$1.8b US buyouts


DAE expects US$7b sales in two years


DAE to seek CFIUS review for US buys


DAE in talks to buy US aero assets


Dubai Aerospace Enterprise to sponsor initiatives at Farnborough


Dubai Aerospace will buy 50 aircraft to lease out in the region


Dubai Aerospace Enterprise announces consortium to launch airport development


Dubai unveils US$15billion investment in global aerospace industry