It has been revealed that the Dubai Aerospace Enterprise (DAE) has signed an operational leasing agreement with Garuda Indonesia which will secure the lease of eight Boeing 737-800 aircraft.
Under the agreement, the DAE will arrange the delivery of the aircraft from Boeing to Garuda in June.
Commenting on the agreement, Emirsyah Satar, President and CEO of Garuda Indonesia, remarked:
"We are delighted with our agreement with DAE Capital, a company with proven credentials in aircraft leasing. We look forward to building a long-term relationship with this highly capable leasing and finance enterprise. DAE finances the first eight of Garuda's total order of 50 Boeing 737-800 Next Generation aircraft which will be delivered starting mid-2009. These new aircraft are specifically configured for Garuda Indonesia, with more advanced avionics, more fuel efficient, eco-friendly engines, and a 'state of the art' in-flight entertainment system in all classes."
DAE Capital's fleet currently comprises 33 single aisle and wide-body aircraft. Furthermore, it has 28 aircraft contracted on a purchase and leaseback basis. DAE Capital has committed to invest in a fleet portfolio with an estimated market value of USD27bn.
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