Russian Cargo Airline Leases Three New Boeing 777s from Dubai

Russian cargo airline AirBridgeCargo and the biggest aircraft lessor in the Middle East, Dubai Aerospace Enterprise (DAE), have agreed on a deal for three new Boeing 777 freighter planes, Logistics Middle East reports.

Under the arrangement, DAE’s leasing division DAE Capital will purchase three new Boeing 777 freighter aircraft from the manufacturer and lease them to Sheremetyevo-based AirBridgeCargo, which is part of Volga-Dnepr Group.

The three aircraft will be the first of this type to enter AirBridgeCargo’s fleet in 2020, the parties said in a statement on Wednesday.

“DAE Capital is the world’s largest lessor of 777F aircraft, and our long-term experience with this aircraft type helped in executing this agreement swiftly,” said DAE’s chief executive Firoz Tarapore.

In a separate move, Volga-Dnepr Group and U.S. engine supplier GE Aviation renewed their strategic partnership, first announced in 2016, which incorporates a long-term logistic support program. Volga-Dnepr Group will continue to provide transportation support for GE Aviation and other GE businesses with its supersized Antonov An-124 charter operations and Boeing 747-8F scheduled services.

The partnership also includes marketing efforts, business growth opportunities, digital collaboration and leadership training, the two companies said.