Dubai Aerospace Enterprise (DAE), operating under Dubai Investment Corporation (ICD), has signed a long-term leasing agreement with Turkish Airlines and AJet for 10 new Boeing 737-8 aircraft, scheduled for delivery in 2026 and 2027.
Deepening Partnership with Turkish Airlines
Firoz Tarapore, CEO of DAE, emphasized the significance of the agreement, noting that Turkish Airlines has been a long-time customer of DAE and that AJet is receiving the latest technology, fuel-efficient aircraft to meet its growing fleet needs. Tarapore stated, “Turkey is a rapidly growing market, and flight movements will increase by 5.7% in the first half of 2025. We are pleased to be chosen by Turkish Airlines to provide solutions for AJet’s expanding fleet needs with new technology and fuel-efficient aircraft.”
DAE’s Expanding Fleet and Objectives
Dubai-based DAE currently owns a total of 236 Boeing aircraft, including 119 from the Boeing 737 MAX family, and continues to manage this fleet. DAE is consistently working in alignment with its strategy to expand its fleet and equip airlines with efficient narrow-body jets. The company recently took steps to meet growing demand through similar agreements with Hainan Airlines and Eastar Jet.
Strong Leasing Demand and Growing Profits
DAE reported significant growth in profits in the first nine months of 2025, driven by strong leasing demand and expanded maintenance capacity. Additionally, the integration of Nordic Aviation Capital (NAC), an aircraft leasing company acquired earlier this year, contributed to a major increase in revenues. The company announced that its pre-tax profit for the nine months ending September 30 had doubled compared to the same period last year, reaching $653 million, and its total revenue increased from $1.02 billion to $1.28 billion.
The 10 Boeing 737-8 leasing agreement between DAE and Turkish Airlines marks a major milestone for both Turkey’s aviation sector and DAE. These agreements represent an important step in addressing Turkish Airlines’ growing fleet needs and contribute to the momentum in the sector, with a 5.7% growth in flight activity in Turkey.
