Dubai Aviation Industries sign final agreements to sell 75 aircraft

Dubai Aviation Industries announced that it had recently signed agreements with two parties to sell about 75 aircraft, and the terms of deals have not been disclosed.

The planes include a portfolio of about 50 “Embraer E-Jets” aircraft that will be sold to a specialized rental company, and a portfolio of about 25 aircraft outside the production line that will be sold to a financial investor, provided that Dubai Aviation Industries provide rental management services, assets and technical support.

The deals that were announced today, upon completion, will contribute to reducing the average weighted age and increasing the remaining average lease duration for the company’s passenger fleet at the company.

Some deals are subject to regulatory approvals and usual closure conditions, and all deals are expected to be completed.

Fayrouz Tarabur, CEO of Dubai Aviation Industries, said that these deals will achieve several goals by align the composition of its wallet with the types of targeted aircraft announced, enhancing the total efficiency of fuel consumption, reducing the average life of aircraft, and extending the remaining rental periods of the aircraft within the portfolio.