Dubai Aerospace Enterprise secures $750m ENBD loan
DUBAI, 25 days ago
Dubai Aerospace Enterprise (DAE), the global aviation services company, said it has secured a five-year term loan worth AED2.75 billion ($750 million) from Emirates NBD Bank for general corporate purposes and to support the future financing needs of its business.
Headquartered in Dubai, it serves more than 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle.
On the deal, CEO Firoz Tarapore said: "This transaction marks a further deepening of our relationship with ENBD, one of the largest lenders in the UAE, through this Emirati Dirham denominated term loan."
"The loan will serve to further strengthen our exceptional liquidity," he added.
A globally recognised aviation services corporation, DAE has two divisions - DAE Capital and DAE Engineering.
DAE Capital is an award-winning aircraft lessor with an owned, managed, and committed fleet of 500 Airbus, ATR, and Boeing aircraft with a fleet value of $17 billion.
DAE Engineering provides regional MRO services to customers in Europe, Middle East, Africa, and South Asia from its facilities in Amman, Jordan, accommodating up to 17 wide and narrow body aircraft.
