03-06-2025
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
