Dubai Aerospace Enterprise (DAE), one of the world’s biggest aircraft leasing companies, is expanding its Boeing 737 MAX portfolio, as air travel is beginning to show “strong signs” of recovery.
The lessor, which previously purchased MAX aircraft from existing customers and leased them back to airlines, has just put an order for 15 units of 737-8 jets with Boeing.
The announcement comes as the 737 MAX jets have been approved to fly again by regulators. After two deadly accidents in March 2019, Boeing’s 737 MAX aircraft were grounded pending security audit and further investigations.
DAE’s latest order is the Dubai-based company’s first direct 737 MAX purchase from Boeing, according to a joint statement from American plane-maker and DAE.
Mr. Firoz Tarapore, Chief Executive Officer DAE remarked that “an increasing number of global aviation regulators are returning the MAX to the skies. We are confident in the success of these aircraft as domestic and regional air travel are seeing strong signs of recovery.”
DAE signed a deal with American Airlines last year to buy and lease back 18 new 737-8 aircraft. The lessor has delivered 17 of the jets to the US carrier since the agreement was made.
The lessor had previously completed a similar purchase-leaseback deal for five 737-8s with Brazilian carrier GOL.
The 737-8 is part of the 737 MAX series, which is intended to increase fuel efficiency, reliability, and flexibility in the single-aisle market. It has a range of 3,550 nautical miles, which is about 600 nautical miles longer than its predecessor, allowing airlines to offer new and more direct passenger services.