DAE Capital, the leasing arm of state-owned Dubai Aerospace Enterprise, said its total fleet rose to 383 owned, managed and committed aircraft at the end of 2017, boosted by the acquisition of Dublin-based lessor AWAS last August.
The completion of the acquisition from AWAS’ previous owners, private equity firm Terra Firma Capital Partners and the Canadian Pension Plan Investment Board, gave DAE ownership of around 400 aircraft.
The deal tripled the previous number on its books and catapulted DAE Capital among the world’s biggest aircraft lessors globally with an estimated fleet value of over US$14 billion.
The purchase of a portfolio of 14 ATR72-600 aircraft from GE Capital Aviation Services (GECAS) in March, as well as the launch of the ABS ‘Falcon 2017-1’ in February, were cited as other highlights of 2017 in an operational update from DAE Capital on Tuesday.
The Dubai government-controlled company also issued its inaugural $2.3bn benchmark bond in the US capital markets in June.
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Read more:
Dubai Aerospace Enterprise to tap Islamic bond market
AWAS deal anchors DAE among 10 largest leasing companies globally
Dubai aircraft lessor boosts fleet with more ATR passenger planes
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Over the course of the year, DAE Capital purchased 37 aircraft, sold 25 aircraft, completed 78 leasing transactions and reached 109 customers in 55 countries.
The average age of its owned fleet was 5.7 years as of end of 2017, and the average lease term remaining on owned fleet was 6.1 years.
In October, DAE said it intended to tap the Islamic bond market within the ensuing nine months as part of a strategy to diversify the company's funding.
Dubai Aerospace Enterprise chief executive Firoz Tarapore said the company would issue a sukuk by the middle of 2018, not specifying how much money the company could raise.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
PSL FINAL
Multan Sultans v Peshawar Zalmi
8pm, Thursday
Zayed Cricket Stadium, Abu Dhabi
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
Four%20scenarios%20for%20Ukraine%20war
%3Cp%3E1.%20Protracted%20but%20less%20intense%20war%20(60%25%20likelihood)%3C%2Fp%3E%0A%3Cp%3E2.%20Negotiated%20end%20to%20the%20conflict%20(30%25)%3C%2Fp%3E%0A%3Cp%3E3.%20Russia%20seizes%20more%20territory%20(20%25)%3C%2Fp%3E%0A%3Cp%3E4.%20Ukraine%20pushes%20Russia%20back%20(10%25)%3C%2Fp%3E%0A%3Cp%3E%3Cem%3EForecast%20by%20Economist%20Intelligence%20Unit%3C%2Fem%3E%3C%2Fp%3E%0A
