DAE confirmed that it has almost completed the Purchase and Leaseback agreement with American Airlines (A1G) (AAL) over the leasing of the Boeing 737 MAX 8 jets. The parties signed the contract in Q3 2021 where the American air carrier committed to lease 18 MAX 8 jets.
The Dubai-based lessor has delivered the first ten Boeing 737 MAX planes in December 2020, five more in January 2021 as well as two jets in February and March 2021 respectively, the Planespotters.com data showed.
“We are delighted to see an increasing number of global aviation regulators return the MAX to the skies. We wish American and Boeing great success,” Tarapore was quoted in the DAE announcement. The lessor indicated having a total of 20 Boeing 737 MAX 8 aircraft with operators.
Meanwhile, Ihssane Mounir, the Senior Vice President of Commercial Sales and Marketing at Boeing added that DAE was putting its purchasing strategy and growth plan in action while “helping operators during this challenging time in our industry.”
“We are delighted to once again partner with DAE to support a valued customer such as American Airlines (A1G) (AAL) and we are honored by their trust and confidence in the Boeing 737 family,” Mounir added.
American Airlines (A1G) (AAL) completed its first commercial flight on the Boeing 737 MAX jet in the end-December 2020, almost a month after the Federal Aviation Authority (FAA) recertified the beleaguered aircraft. According to the recent research conducted on the 737 MAX tracking data by Morgan Stanley, the United States Investment banking company, AAL has completed a total of 1,435 flights on the ungrounded jet.