DAE Capital inks deal with Air New Zealand

29 December 2008

DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise, has signed a long-term leasing agreement with Air New Zealand for two Boeing 777-300 Extended Range aircraft. DAE Capital has signed up the New Zealand flag carrier in a sale and leaseback financing agreement. The deal will see two new Boeing 777-319ER aircraft join DAE Capital's fast growing fleet portfolio, with a lease term of 12 years. Representing two of Air New Zealand's four aircraft on order with Boeing, the B777-319ERs are due for delivery in January and March 2011 and both aircraft will be equipped with GE 90-115BL engines. Air New Zealand currently operates 50 jet aircraft on routes to 32 city destinations in 16 countries.

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