Dubai Aerospace Enterprise (DAE) has announced that it had successfully closed the deal with Sky Leasing, an aviation investment manager, for acquisition of SKY Fund I Irish and its subsidiaries.

 

Sky Fund I owns and is committed to own 36 aircraft on lease to 14 airline customers in 11 countries. Next generation technology aircraft represent more than 90% of the acquired portfolio, said a statement from the Dubai group.

 

A premier aircraft leasing asset manager, Sky Leasing has offices in San Francisco, California, Dublin, Ireland, and Singapore. 

 

Following the acquisition, DAE Capital’s fleet of owned, managed, committed, and mandated-to-manage aircraft will grow to nearly 500 aircraft, it added. 

 

CEO Firoz Tarapore said: "This acquisition of mainly next generation, fuel-efficient aircraft supports our continued growth and furthers our commitment to invest in new technology aircraft, reducing the emissions intensity of our overall fleet."

 

The owned portfolio will comprise of nearly 50% of fuel-efficient, next generation aircraft, he stated.

 

"We are delighted to welcome our new airline relationships to the business, and deepen our relationship with existing airline customers," he added.