ACU Dec-18 Final LR

DAE sells portfolio of 18 aircraft on lease to 15 airlines
AIRLINES
Jonathan Morris, Head of Wholesale Banking and Senior Executive Vice President at Emirates NBD Bank and Firoz Tarapore, Chief
Executive Officer at Dubai Aerospace Enterprise, with their respective teams after concluding a new four-year unsecured revolving
credit facility with an initial commitment of US$535 million from a group of eight regional banks. DAE has made Emirates NBD as
its sole Mandated Lead Arranger and Bookrunner.
D U B A I : D u b a i A e r o s p a c e
Enterprise (DAE) Ltd. has entered into
a definitive sale agreement to sell a
portfolio of 18 mid-life aircraft to
institutional investors.
The 18 aircraft in this portfolio are
on lease to 15 airlines in 13 countries
and have a weighted average age of
approximately 9 years with a
weighted average remaining lease
term of 4.5 years. The portfolio is
made up of 69% current generation
narrow body aircraft, 24% widebody
a i r c r a f t , a n d 7 % AT R 7 2 - 6 0 0
turboprop aircraft., said DAE which
will act as portfolio servicer.
“We continue to build our managed
aircraft portfolio. This transaction
takes us one step closer to our stated
goal of having US$5 billion of
managed aircraft assets. Investors are
increasingly recognizing the value of
DAE's Aircraft Investor Services (AIS)
p l a t f o r m a n d e n t r u s t i n g t h e
management of their aircraft assets to
us. So far, we have continued to
o u t p e r f o r m o u r i n v e s t o r s '
expectations in all the portfolios we
manage,” said Firoz Tarapore, Chief
Executive Officer of DAE.
MEA & Rolls-Royce sign deal for aircraft total care
BEIRUT: The Lebanese carrier
Middle East Airlines–Air Liban (MEA)
has decided to purchase four new and
two option Airbus A330-900neo
powered by Rolls-Royce Trent 7000
engines scheduled for delivery in
2021.
Rolls-Royce signed in December a
contract with MEA to provide support
for the Trent 7000 engines powering
its new Airbus A330-900neo fleet. The
contract covers long-term engine
maintenance services, throughout
the operation of the engine with MEA,
the purchase of spare engines and
supply of parts.
The contract was signed during the
Lebanon-UK Business and Investment
Forum in London by MEA Chairman -
Director General Mohamad El-Hout
and Rolls-Royce Chairman Ian Davis
and witnessed by the Prime Minister
of Lebanon, His Excellency Mr Saad
Hariri and the Rt. Honourable Alistair
Burt, UK Minister of State for
International Development and
Minister of State for the Middle East.
Rolls-Royce will deliver the latest
engine in its Trent range, the Trent
7000, along with its flagship TotalCare
support service. The Trent 7000 is part
of a Trent family that has now
accumulated more than 125 million
engine flying hours.
“We are committed to ensuring our
airline is at the leading-edge in terms
of using technology to provide
excellent customer service and
performance. Our new aircraft, and
their latest-generation Trent 7000
engines, will deliver on that goal.
Rolls-Royce Totalcare is expected to
offer optimisation to our maintenance
costs through long term
engine maintenance services,” said
MEA Chairman - Director General
Mohamad El-Hout.
The relationship between Rolls-
Royce and MEA dates back more than
50 years, when the airline operated
Dart-powered Viscount aircraft. MEA
currently operates five Airbus A330
aircraft powered by Trent 700
engines, which will be progressively
replaced by these latest aircraft.
The 68-72,000lb thrust Trent 7000
delivers a step change in performance
and economics compared to the Trent
700. Benefitting from a bypass ratio
double that of its predecessor, the
Trent 7000 will improve specific fuel
consumption by 10% and will
significantly reduce noise.