Dubai Aerospace Enterprise (DAE), a leading global provider of aviation services and leasing solutions, has announced that it has agreed to buy 64 Boeing 737 MAX aircraft from a subsidiary of China Aircraft Leasing Group Holdings Limited (CALC), a major Chinese aircraft leasing company.

The deal, which was disclosed on August 14th, 2023, involves one of DAE’s affiliated entities taking over the rights, interests, and obligations of a portfolio of 64 Boeing 737 MAX airplanes that were previously owned by a wholly-owned subsidiary of CALC. The portfolio includes different models of the 737 MAX family, such as the 737 MAX 8s, 737 MAX 9s, and 737 MAX 10 aircraft. The latter model is still undergoing the certification process.

The delivery of the aircraft is expected to take place between 2023 and 2026. The exact terms and conditions of the transaction were not disclosed.

DAE’s Chief Executive Officer, Firoz Tarapore, said: “This acquisition is consistent with our long-term strategy of growing our fleet with modern and fuel-efficient aircraft. We are pleased to add these high-quality assets to our portfolio and look forward to working with CALC and Boeing to complete this transaction.”

CALC’s Chief Executive Officer, Mike Poon, said: “This deal marks a significant milestone for CALC as we continue to optimize our fleet and diversify our global customer base. We are delighted to partner with DAE, a reputable and well-established aviation company, and to support their fleet expansion with our 737 MAX aircraft.”

Boeing’s Senior Vice President of Commercial Sales and Marketing, Ihssane Mounir, said: “We are honored that DAE has chosen to grow its fleet with the 737 MAX. This is a testament to the strong recovery of the global aviation market and the value proposition of the 737 MAX family. We thank DAE and CALC for their trust and confidence in Boeing and our products.”

The Boeing 737 MAX is a narrow-body aircraft that offers more range, lower fuel consumption, and lower emissions than its predecessors. The aircraft was grounded worldwide in March 2019 after two fatal crashes that killed 346 people. After a series of investigations, modifications, and tests, the aircraft was cleared to resume service by various aviation authorities in late 2020 and early 2021. Since then, Boeing has delivered more than 300 737 MAX aircraft to customers around the world.