DAE substantially completes Boeing 737 MAX 8 transaction with American Airlines

Dubai Aerospace Enterprise (DAE) has substantially completed the agreement with American Airlines signed in the third quarter of 2020 to deliver 18 new Boeing 737 MAX 8 aircraft.

Firoz Tarapore, chief executive officer of DAE said: “This transaction reflects our agility, our balance sheet strength, our underwriting capability, our ability to assist one of our long-term customers and our belief in the product strength of the 737 MAX 8 aircraft. We are delighted to see an increasing number of global aviation regulators return the MAX to the skies. We wish American and Boeing great success.”

Ihssane Mounir, senior vice-president of commercial sales and marketing of The Boeing Company, added: “DAE is putting their purchasing strategy and growth plan in action and helping operators during this challenging time in our industry. We are delighted to once again partner with DAE to support a valued customer such as American Airlines and we are honoured by their trust and confidence in the Boeing 737 family.”

— business@khaleejtimes.com

Issac John

Editorial Director of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.