DAE seals purchase, leaseback agreement with Saudia

Dubai Aerospace Enterprise (DAE), the global aviation services company, has announced that it has signed a purchase agreement with Saudia, the national flag carrier of the Kingdom of Saudi Arabia, for four new Boeing 777F planes and also entered into long-term leases for these aircraft, delivering between this October and May next year.

The Boeing 777F is a long-range, widebody freighter designed to deliver strong payload capability, operational efficiency, and reliability. 

The aircraft supports the transportation of a broad range of cargo across global markets and is widely used by leading cargo operators around the world. 

DAE currently owns, manages, and is committed to own over 1,000 aircraft, including more than 250 from Boeing, with plans to further expand its fleet to meet growing market demand.

On the strategic deal, CEO Firoz Tarapore said: "We are pleased to announce a purchase-leaseback agreement for four Boeing 777F aircraft with Saudia. This transaction reflects our continued commitment to supporting our airline customers with high-quality, in-demand aircraft."

"These aircraft will support the airline’s expanding cargo operations and enhance its ability to serve key markets across its global network. We look forward to working with Saudia and wish them continued success.

Headquartered in Dubai, DAE is an aircraft lessor with an owned, managed, and committed fleet of approximately 1,000 Airbus, ATR, and Boeing aircraft with a fleet value of $35 billion serves more than 200 airline customers in over 85 countries.