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DAE and Azul announce completion of Sale Leaseback Transactions

Dubai Aerospace Enterprise (DAE) Ltd. and Azul Brazilian Airlines announced that they had recently completed the delivery of 5 ATR 72-600s to the airline.

DAE Managing Director Khalifa H. AlDaboos said: “We are delighted to include AZUL as one of DAE’s new clients in Latin America. We look forward to a mutually rewarding long-term relationship with Azul in this rapidly expanding market. We intend to continue to develop our business and increase our fleet through sale and lease-backs of targeted aircraft, such as the ATR 72-600 aircraft.”

David Neeleman, Chief Executive Officer and Founder of Azul said: “We are pleased to add DAE to our list of finance partners and look forward to a long-term relationship with DAE particularly as we increase the number of aircraft in our fleet. With the ATR72-600’s covering our 100 domestic destinations we believe AZUL does and shall continue to truly serve all of Brazil.”

In 2014, DAE placed a direct order with the manufacturer for up to 40 ATR 72-600s. The total portfolio at year-end 2014 is approximately $3.6 billion.