DAE Capital, the aircraft leasing and financial business subsidiary of Dubai Aerospace Enterprise (DAE), has announced that it has delivered the first Boeing 737-800 next-generation aircraft to Indonesia's flag carrier Garuda.

DAE authorities said that the delivery is one of eight new B737-800 aircraft to be delivered to Garuda between June 2009 and April 2010.

While commenting on the occasion, Dr Omar bin Sulaiman, DAE Group Managing Director, stated, "DAE's delivery of the first B737-800 aircraft to Garuda highlights the expansion of our fleet portfolio and the opportunity to work with Indonesia's largest carrier."

With DAE Capital's fleet at present comprising 36 single aisle and wide-body aircraft, it has an additional 25 aircraft contracted of which 16 are on a purchase and lease back basis.

DAE Capital has committed to pump in a fleet portfolio with an estimated value of $27 billion (Dh99bn) that will encompass 100 Airbus A320 family and A350 XWB aircraft, and 100 Boeing 737 NG aircraft, which will start delivery in fiscal 2010.