While DAE has been investing in the 737 MAX for some time by buying jets from existing customers and leasing them back to carriers, this order marks the company's first direct purchase from Boeing.
DAE sees this step as an important part of modernizing their portfolio, improving its financial situation, and overall environmental performance.
Boeing's senior vice president of Commercial Sales and Marketing, Ihssane Mounir, called DAE "instrumental in helping its customers realize the operating economics and environmental performance of the 737-8," in a statement, before continuing, saying it is "honored by DAE's trust in the 737 family, and we look forward to partnering with them to serve the fleet requirements of airlines around the world."
Once finalized, the order will appear on Boeing's Orders and Deliveries website.
The Boeing 737-8 is a member of the 737 MAX family, and is designed to offer more reliability, flexibility, and fuel efficiency in the single-aisle market. The current model can fly 3,550 miles in one stretch, allowing airlines to offer new and more direct routes they were unable to offer previously.
The 737-8 has been proven to use 16% less fuel than its predecessor, reducing CO2 emissions and operating costs.
With commercial and government customers in over 150 countries, Boeing says it is the world's largest aerospace company and are leading the way in technology and innovation.
Dubai Aerospace Enterprise is a global aviation services company based in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle. Their fleet has a combined value of approximately $16 billion. DAE's engineering division services customers across Europe, the Middle East, Africa and South Asia, and it is authorized to work on 13 aircraft types, and hold regulatory approval from over 25 realtors across the globe.