DAE Leases Two 737-700 Aircraft to Turkish Airlines
Monday, 16 November 2009
Dubai – DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), has leased two 737-700 Aircraft to THY Turkish Airlines. The aircraft leased to Turkish Airlines will be operated by their LLC subsidiary Anadalou Jet until March and April 2015 respectively.

Bob Genise, CEO of DAE Capital, said: “DAE Capital is very pleased to have concluded our first lease transaction with THY with these two B737-700 aircraft and we look forward to developing and growing our business relationship with them in the future.”

Dr. Temel Kotil, CEO of Turkish Airlines, said: “Turkish Airlines is pleased to deal with DAE Capital regarding two B737-700 A/C lease transaction. These two new generation aircraft will provide a competitive cost advantage for our LCC subsidiary Anadolu jet. We strongly believe that our partnership with DAE Capital will grow with new transactions in the future.”

DAE Capital’s fleet currently comprises 37 single aisle and wide-body aircraft. Furthermore, it has an additional 24 aircraft contracted of which 15 are on a purchase and lease back basis. DAE Capital has committed to invest in a fleet portfolio with an estimated market value of $27 billion that will gradually encompass 100 Airbus A320 family and A350 XWB aircraft, and 100 Boeing 737 Next Generation aircraft and wide-body planes, which will commence delivery in 2010.

Source: Press Release (DAE Capital)