Dubai Aerospace Enterprise (DAE) has signed an agreement with Saudi Arabia’s national airline, Saudia, to purchase and lease back four new Boeing 777F freighter aircraft as the carrier expands its cargo operations.
Under the transaction, DAE will purchase the aircraft and lease them to Saudia under long-term agreements. Deliveries are scheduled to take place between October 2026 and May 2027.
DAE Chief Executive Firoz Tarapore said the agreement demonstrates the company’s continued support for airlines seeking modern aircraft to meet rising demand.
He said the four freighters would help Saudia expand its cargo operations and strengthen connections with important markets across its international network.
The Boeing 777F is a long-range widebody freighter designed to carry large cargo loads over extended distances. The aircraft is widely operated by major cargo airlines because of its payload capacity, operating efficiency and range.
The agreement comes as DAE continues to expand its aircraft portfolio and strengthen its position in the global aviation leasing market. The Dubai-based company currently owns, manages or has commitments to own more than 1,000 aircraft, including more than 250 Boeing aircraft.
DAE operates through its DAE Capital and DAE Engineering divisions and serves more than 200 airline customers in more than 85 countries. Its international operations span offices in Dubai, Dublin, London, Amman, Singapore, Miami, Seattle and San Francisco.
DAE Capital, the company’s aircraft leasing business, has an owned, managed and committed fleet of about 1,000 aircraft from Boeing, Airbus and ATR. The portfolio has an estimated value of about $35 billion.
The company has also been expanding through acquisitions and investment partnerships. During the first half of 2026, DAE announced the acquisition of Macquarie AirFinance, strengthening its presence in aircraft leasing.
DAE also established two long-term co-investment programmes that are expected to add approximately $15 billion in aircraft assets to its fleet over the next five years.
The latest agreement with Saudia adds to growing activity in the air cargo sector, where airlines and leasing companies are investing in newer and more capable freighters to support international trade and logistics networks.
For Saudia, the four Boeing 777Fs will add additional capacity to its cargo fleet as the airline seeks to increase its role in connecting Saudi Arabia with major markets worldwide.
The deliveries beginning later this year will allow the carrier to gradually introduce the aircraft into its operations, with the final aircraft scheduled to arrive by May 2027.
