Brief: DAE To Acquire Order Book Of 64 Boeing 737 Max Aircraft From CALC - Statement

China Aircraft Leasing group

14/08/2023 11:02

Aug 14 (Reuters) - DUBAI MEDIA OFFICE:
    * DUBAI AEROSPACE ENTERPRISE (DAE) TO ACQUIRE ORDER BOOK OF
64
BOEING 737 MAX AIRCRAFT FROM CALC - STATEMENT
    * DAE AFFILIATE SIGNED A DEFINITIVE AGREEMENT TO ACQUIRE
RIGHTS,
INTERESTS, AND OBLIGATIONS OF A PORTFOLIO OF 64 BOEING 737 MAX
AIRCRAFT FROM UNIT OF CHINA AIRCRAFT LEASING GROUP HOLDINGS
LIMITED
    *  PORTFOLIO INCLUDES 737-8, 737-9 AND 737-10 VARIANTS
    * DELIVERY OF THE AIRCRAFT IS SCHEDULED TO OCCUR BETWEEN
2023 AND
2026
    * TERMS OF THE TRANSACTION WERE NOT DISCLOSED
    * ON A PRO FORMA BASIS, THIS TRANSACTION WILL INCREASE THE
PERCENTAGE OF NEW TECHNOLOGY, FUEL EFFICIENT AIRCRAFT IN OUR
OWNED FLEET TO APPROXIMATELY 66% FROM 50%
    * ON A PRO FORMA BASIS, THIS TRANSACTION WILL INCREASE OUR
FLEET
OF OWNED, MANAGED, COMMITTED, AND MANDATED-TO-MANAGE AIRCRAFT TO
APPROXIMATELY 550 AIRCRAFT, VALUED AT APPROXIMATELY US$20
BILLION
    * RANSACTION IS EXPECTED TO BE COMPLETED IN THE THIRD
QUARTER OF
2023 AND IS EXPECTED TO HAVE NO IMPACT ON ANY OF THE COMPANY’S
CAPITAL ADEQUACY, LIQUIDITY, AND FUNDING RATIOS
    * DAE WAS ADVISED BY MILBANK LLP AND KPMG IRELAND


 ((Reuters.Briefs@thomsonreuters.com;))