Latest news with #DubaiAerospaceEnterprise
Arabian Business
2 days ago
- Business
- Arabian Business
Dubai Aerospace Enterprise signs $300mn unsecured term loan
The deal was made with Bank of China (Dubai) Branch, Bank of China Limited, London Branch, and Bank of China (Hong Kong) Limited (BOC). The loan will be allocated for general corporate purposes and will assist the company in achieving future financing requirements. 'This transaction with BOC provides us with additional liquidity to support our ongoing commitment to meeting the needs of our airline customers while maintaining a modern and efficient fleet. We are pleased to deepen our relationship with Bank of China and look forward to continuing our collaboration with the entire Bank of China group in the years ahead,' Firoz Tarapore, Chief Executive Officer of Dubai Aerospace Enterprise, said in a statement. 'Bank of China values its growing relationship with DAE and is pleased to support this strategic financing. The successful execution of this transaction reflects the strength of our global network and our ability to deliver tailored solutions that meet the evolving needs of our clients across the aviation sector. In the future, Bank of China will continue to contribute to deepening China-UAE relations and support the development of UAE enterprises,' Pan Xinyuan, General Manager of Bank of China (Dubai) Branch, added.
2 days ago
- Business
Dubai Aerospace Enterprise Secures $300 Million Loan from Bank of China
Dubai Aerospace Enterprise (DAE) has secured a $300 million unsecured term loan from the Bank of China, strengthening its liquidity position and reinforcing ties with one of the world's largest financial institutions. The 3-year loan agreement was signed with Bank of China's Dubai Branch, London Branch, and Hong Kong Limited. DAE confirmed that the funds will be used for general corporate purposes and to support future financing needs as the aviation giant continues to expand its global operations. 'This transaction with BOC provides us with additional liquidity to support our ongoing commitment to meeting the needs of our airline customers while maintaining a modern and efficient fleet,' said Firoz Tarapore, CEO of DAE. 'We are pleased to deepen our relationship with Bank of China and look forward to continuing our collaboration.' The deal also marks a significant step in strengthening economic ties between China and the UAE. Pan Xinyuan, General Manager of Bank of China (Dubai) Branch, noted the importance of the partnership, highlighting the bank's ability to offer tailored financing solutions in the aviation sector. 'Bank of China values its growing relationship with DAE and is pleased to support this strategic financing,' Pan said. 'We will continue to contribute to deepening China-UAE relations and support the development of UAE enterprises.' DAE, one of the largest aircraft leasing companies in the world, manages a fleet of over 500 aircraft and serves more than 120 airline customers across 60 countries. News Source: Emirates News Agency
Zawya
3 days ago
- Business
- Zawya
Dubai Aerospace signs $300mln 3-year term loan
Dubai Aerospace Enterprise Ltd. has signed a $300 million three-year unsecured term loan with Bank of China (Dubai) Branch, Bank of China Limited, London Branch and Bank of China (Hong Kong) Limited. The aircraft lessor, which is fully owned by Investment Corporation of Dubai, will use the loan for general corporate purposes and future financing needs of the business. Firoz Tarapore, CEO of DAE, said the transaction with BOC 'provides us with additional liquidity to support our ongoing commitment to meeting the needs of our airline customers while maintaining a modern and efficient fleet'. In March 2024, DAE signed $420 million 5-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited. As of March 31, 2025, the company had a total debt of $8 billion, of which 80% was unsecured. Net debt-to-equity ratio was 2.43x. (Writing by Brinda Darasha; editing by Seban Scaria)
28-05-2025
- Business
Dubai Aerospace Enterprise Sells 75 Aircraft in Strategic Portfolio Shift
Dubai Aerospace Enterprise (DAE) has signed agreements to sell approximately 75 aircraft in a move aimed at streamlining its fleet and enhancing operational efficiency, the company announced on Wednesday. The sale includes about 50 Embraer E-JETS to a specialist lessor and around 25 out-of-production aircraft to a financial investor. While financial terms were not disclosed, the agreements reflect DAE's continued strategy to optimize its asset portfolio. As part of the transaction, DAE will also provide lease, asset, and technical management services for the out-of-production aircraft sold to the financial investor. The deals are expected to reduce the average age of DAE's passenger fleet and extend the remaining lease terms, improving the overall efficiency and stability of the company's aircraft portfolio. 'These transactions will achieve multiple objectives by aligning our portfolio composition with our stated target aircraft types,' said Firoz Tarapore, CEO of DAE. 'They enhance the overall fuel efficiency, age profile, and remaining lease term characteristics of the portfolio.' Completion of the transactions remains subject to regulatory approvals and customary closing conditions. DAE, a leading global aviation services company headquartered in Dubai, continues to position itself for long-term growth amid evolving market demands and a shifting industry focus on younger, more fuel-efficient fleets. News Source: Emirates News Agency
08-05-2025
- Business
Dubai Aerospace Enterprise Completes $2 Billion Acquisition of Nordic Aviation Capital
Dubai Aerospace Enterprise (DAE) Ltd today announced that it had completed the previously announced acquisition of 100% of the outstanding share capital of Nordic Aviation Capital Designated Activity Company and its consolidated subsidiaries ('NAC' or 'Nordic Aviation Capital') from NAC Holdings Limited. The enterprise value is approximately US$2 billion. DAE now has a fleet of approximately 750 owned, managed and committed aircraft. The owned and managed fleet of approximately 650 aircraft is on lease to 161 airlines in 74 countries. In addition, DAE has commitments to acquire approximately 100 aircraft from Boeing, Airbus, ATR, and trading counterparties. Firoz Tarapore, Chief Executive Officer of DAE, commented, 'Our fleet of 650 owned and managed aircraft now makes us the 3rd largest aircraft lessor globally by number of aircraft. This transaction augments our position as a global leader in aircraft leasing and enhances our ability to offer more cost-effective solutions to our current and prospective clients. This transaction also offers us the opportunity to deepen our relationship with the OEMs across a broader range of aircraft types." News Source: Emirates News Agency
