DAE, Azul announce completion of Sale Leaseback Transactions

Dubai Aerospace Enterprise, DAE, and Azul Brazilian Airlines, yesterday announced that they had recently completed delivery of 5 ATR 72-600s to the airline.
DAE Managing Director, Khalifa H. Al Daboos, said, "We are delighted to include AZUL as one of DAE's new clients in Latin America. We look forward to a mutually rewarding long-term relationship with Azul in this rapidly expanding market. We intend to continue to develop our business and increase our fleet through sale and lease-backs of targeted aircraft, such as the ATR 72-600 aircraft." David Neeleman, Chief Executive Officer and Founder of Azul, said, "We are pleased to add DAE to our list of finance partners and look forward to a long-term relationship with DAE particularly as we increase the number of aircraft in our fleet. With the ATR72-600's covering our 100 domestic destinations we believe AZUL does and shall continue to truly serve all of Brazil." In 2014, DAE placed a direct order with the manufacturer for up to 40 ATR 72-600s. The total portfolio at year-end 2014 is approximately $3.6 billion.