DAE shells out 75 aircraft from its fleet: Dubai Aerospace Enterprise (DAE) has inked agreements to offload 75 air carriers to two undisclosed parties, according to a statement. The portfolio includes 50 Embraer E-Jet aircraft, which will be acquired by a specialized leasing company. The remaining 25 off-production jets will be sold to an unnamed financial investor, and DAE will still provide lease, asset, and technical management services on the jets.

What else do we know? Some transactions are still subject to regulatory approvals and closing conditions, yet all are expected to close before the year’s end. Other terms of the agreement were not made public.

The impact: Following the completion of the transaction, the average age of DAE’s fleet will drop, while the average remaining lease term on its passenger fleet will rise, according to the statement. The company’s fleet will also include no Embraer jets, while Boeing aircraft will make up 45% of the firm’s fleet, and Airbus will hold a 42% share.

DAE’s been shuffling up its fleet: The firm acquired 17 aircraft for USD 1 bn after inking agreements with multiple undisclosed counterparties in March, after selling seven Airbus and Boeing aircraft to K2 Aviation back in January. DAE also finalized its full acquisition of Ireland-based Nordic Aviation Capital (NAC) for an enterprise value of USD 2 bn earlier this month, upping its fleet to 750 owned, managed, or committed aircraft.The firm committed to acquiring a further 100 aircraft from the likes of Airbus, Boeing, ATR, and other trading counterparts earlier this month.

ADVISORS- Allen Overy Shearman Sterling and KPMG acted as advisors for the transaction.

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