The date of 18th November 2022 witnessed a milestone moment for Dubai Aerospace Enterprise. It announced the completion of the acquisition of an Irish company that owns around 36 flights and provides them on lease to airlines. With this takeover, DAE’s final fleet would increase in big digits. Let’s check out more about this major acquisition in the global aviation industry.
SKY Fund I Irish And Its Subsidiaries Are Now DAE’s Assets
#Dubai Aerospace Enterprise (DAE) Ltd announces that it had completed the acquisition of SKY Fund I Irish, Ltd and its subsidiaries (“SKY Fund I”). Sky Fund I owns and is committed to own 36 aircraft on lease to 14 airline customers in 11 countries.https://t.co/kUOPDQ3dwS pic.twitter.com/2eKjEgLl17
— Dubai Media Office (@DXBMediaOffice) November 21, 2022
SKY Leasing announced the selling agreement on 6th October. The final verdict of DAE’s acquisition came in recently. The portfolio of this leasing company included 36 aircraft which they leased to 14 country airlines. SKY Leasing managed invested value of over $3.5B over the years of business.
The handover came peacefully as the manager expressed a harmonious agreement with the Dubai Aerospace Enterprise.
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Dubai Aerospace Enterprise Plans To Grow Its Fleet Further
DAE completes acquisition of SKY Fund I Irish, Ltd.https://t.co/kcuRtU74oc pic.twitter.com/KXv7kRXHAO
— DAE (@dubaiaerospace) November 21, 2022
Post signing the agreement, DAE seems to be delighted with the unique portfolio of SKY Fund I. DAE’s major goal is to introduce next-generation technology in the aviation sector. They aim to reduce the carbon footprint. As the new fleet consists of next-generation fuel vehicles, this recent acquisition of SKY Fund I will be of major help to support these goals.
DAE holds upto 35 years of experience in the aviation industry. It has opened up 7 offices globally throughout its course in the market. Its headquarters is situated in Dubai. DAE focuses on providing service to major global airlines like Asia, America, Europe and the Middle East.
Cover Image Courtesy: Dubai Aerospace Enterprise
First Published: November 21, 2022 6:22 PM