Dubai - DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), delivered last week in Jakarta, Indonesia the second Boeing 737-800 Next-Generation aircraft to Garuda the national flag carrier of Indonesia.

The delivery follows the first which was delivered earlier in August of this year. It is one of eight new B737-800 aircraft to be delivered to Garuda between June 2009 and April 2010.

H.E. Dr. Omar Bin Sulaiman, DAE Group Managing Director, said: “DAE’s second delivery to Garuda further expands our fleet portfolio and shows the commitment of DAE Capital to it’s clients and customers worldwide. This delivery further strengthens DAE Capital’s relationship with Indonesia’s largest airline.”

Bob Genise, CEO of DAE Capital, said: “With the delivery of this our second B737-800 delivery to Garuda, DAE Capital is delighted to continue to assist the refleeting of Indonesia’s largest airline with these modern and fuel efficient aircraft.”

Emirsyah Satar, President & CEO Garuda Indonesia: “We appreciate the outcome of our outstanding relationship with DAE and commitment to grow the fleet portfolio together with DAE Capital which certainly is a great value-added and mutual transaction for both Garuda and DAE”.

DAE Capital’s fleet currently comprises 37 single aisle and wide-body aircraft. Furthermore, it has an additional 24 aircraft contracted of which 15 are on a purchase and lease back basis. DAE Capital has committed to invest in a fleet portfolio with an estimated market value of $27 billion that will gradually encompass 100 Airbus A320 family and A350 XWB aircraft, and 100 Boeing 737 Next Generation aircraft and wide-body planes, which will commence delivery in 2010.

Source: Press Release (DAE Capital)