Dubai Aerospace Enterprise (DAE), one of the largest aircraft leasing companies in the world, said that it had signed agreements to raise an additional $490 million from three loan agreements.

These agreements will have maturities of between three and seven years, a DAE statement said.

Firoz Tarapore, chief executive officer of DAE commented: “We continue to bolster our liquidity cushion to support our growth ambitions and opportunities. Our very strong balance sheet and solid operating model continue to attract lenders, new and existing, to DAE.”

Headquartered in Dubai, DAE’s leasing and engineering divisions serve over 125 airline customers around the world from its seven locations in Dubai, Dublin, Amman, Singapore and the US.

DAE’s award-winning leasing division DAE Capital has an owned, managed and committed fleet of approximately 355 Airbus, ATR and Boeing aircraft with a fleet value of $14 billion. – TradeArabia News Service