Dubai – DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), celebrated today the first Boeing 777 Freighter delivery to the Emirates SkyCargo, the Dubai-based air freighter carrier.

This was the first Boeing 777 Freighter delivery to Emirates Airlines. DAE Capital, has a further 7 GE90-115B powered 777 freighters on order due to be delivered between (2009-2014). HH Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates Airlines and Group said: “Our latest addition of the first Boeing 777F is a welcome addition to our fleet and is the largest and most technologically advanced freighter available, marking the beginning of a new generation of world-class freighters. Further it is in line with Emirates SkyCargo’s expansion plans and maintains our goal of operating the world’s most environmentally efficient fleet.”

H.E. Dr. Omar bin Sulaiman, DAE Group Managing Director, said: “DAE’s timely delivery of the first B777F aircraft to Emirates highlights our commitment to the growing relationship with Emirates Airline and this first freighter delivery for DAE marks the beginning of the expansion of our current fleet portfolio to serve the freighter markets.”

DAE Capital’s fleet currently comprises 34 single aisle and wide-body aircraft. Furthermore, it has 27 aircraft contracted on a purchase and leaseback 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 (Dubai Aerospace Enterprise)