Dubai Aerospace Enterprise (DAE) has signed a purchase and leaseback agreement with Saudi Arabian carrier Saudia covering four new Boeing 777F freighter aircraft, the company said on Monday, according to Gulf News.

The aircraft will be delivered between October 2026 and May 2027 under long-term lease agreements, DAE said.

The deal is expected to support Saudia's expanding cargo operations and increase the number of aircraft available to serve markets across its international network, the report said.

Firoz Tarapore, Chief Executive Officer of DAE, said the agreement reflected the company's ongoing focus on supporting airline customers. "We are pleased to announce a purchase-leaseback agreement for four Boeing 777F aircraft with Saudia. This transaction reflects our continued commitment to supporting our airline customers with high-quality, in-demand aircraft," Tarapore said.

The Boeing 777F is a long-range widebody freighter used to transport cargo across international markets, combining high payload capacity with long-haul operating capability, according to the report.

Deliveries under the agreement will begin in October this year and continue through May 2027.

"These aircraft will support the airline's expanding cargo operations and enhance its ability to serve key markets across its global network. We look forward to working with Saudia and wish them continued success," Tarapore added.

DAE currently owns, manages, or has commitments covering more than 1,000 aircraft across its portfolio, of which more than 250 are manufactured by Boeing, the report said. The Dubai-based aviation services company is planning further fleet expansion to meet market demand.

Source: Gulf News