Aircraft lessor Dubai Aerospace Enterprise (DAE) is growing its fleet with an order of 15 737-8 Max planes from Boeing.

DAE had been investing in the 737 Max by buying jets from existing customers and leasing them back to the carriers.

The new order is the first direct 737 Max purchase from Boeing as it modernises its portfolio for better economic and environmental performance.

Firoz Tarapore, chief executive of DAE, said: “We are delighted to deepen our already strong relationship with Boeing.

“Including this order, we own and manage 162 Boeing aircraft.

“An increasing number of global aviation regulators are returning the Max to the skies.

“We are confident in the success of these aircraft as domestic and regional air travel are seeing strong signs of recovery.”

The new purchase is DAE’s second investment in the 737 Max in the past year.

In the third quarter of 2020, the lessor signed an agreement with American Airlines to purchase and lease back 18 new 737-8 airplanes.

Since the agreement, the lessor has delivered 17 of the jets to the United States carrier.

DAE previously completed a similar purchase-leaseback deal with Brazilian carrier GOL for five 737-8s.

The company serves over 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle.