DAE completes acquisition of SKY Fund I Irish

DUBAI, 21st November, 2022 (WAM) — Dubai Aerospace Enterprise (DAE) Ltd announced that it had completed the previously announced acquisition of SKY Fund I Irish, Ltd and its subsidiaries (SKY Fund I) on 18th November.

Sky Fund I leases aircraft to 14 airline customers in 11 countries. Next-generation technology aircraft represent more than 90% of the acquired portfolio.

Following the acquisition of SKY Fund I, DAE Capital’s fleet of owned, managed, committed, and mandated-to-manage aircraft will grow to nearly 500 aircraft. The owned portfolio will comprise of nearly 50% of fuel-efficient, next-generation aircraft.

DAE’s Chief Executive Officer, Firoz Tarapore, commented, “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. We are delighted to welcome our new airline relationships to the business, and deepen our relationship with existing airline customers.”