Dubai Aerospace Enterprise (DAE) signed lease agreements with Hainan Airlines for four new 737-8 aircraft, scheduled for delivery in the fourth quarter of 2025 and the first quarter of 2026. The agreements were signed November 4, 2024.
"The addition of these state-of-the-art Boeing 737-8 aircraft will support Hainan Airlines' growth and operational objectives," said DAE CEO Firoz Tarapore.
Hainan Airlines CEO Yu Chaojie said: “The strategic placement of these new Boeing aircraft into our fleet is an investment in our growth, and a testament to the enduring partnership we have built over time. By reducing the average age of our aircraft, the integration of these aircraft will significantly contribute to fleet modernization. We are not only enhancing our operational efficiency but also optimizing cost structure, improving fuel efficiency, and reducing maintenance costs, which are critical factors in today's competitive aviation market.
DAE currently owns, manages, and is committed to own a total of 500 aircraft, including 215 from Boeing, with plans to further expand its fleet to meet growing market demand.