DAE Bolsters Financial Runway with US$420 Million Loan

DAE Bolsters Financial Runway with US$420 Million Loan

Dubai Aerospace Enterprise (DAE), a leading player in global aviation services, has secured a significant financial boost with a new US$420 million, five-year unsecured term loan. The agreement, finalized on March 20, 2024, involves China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited (CCB) and signifies a strategic move for DAE. Firoz Tarapore, Chief Executive Officer of DAE, expressed his enthusiasm about the deal, […]

via DAE Bolsters Financial Runway with US$420 Million Loan

Dubai Aerospace Enterprise (DAE), a leading player in global aviation services, has secured a significant financial boost with a new US$420 million, five-year unsecured term loan. The agreement, finalized on March 20, 2024, involves China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited (CCB) and signifies a strategic move for DAE.

Firoz Tarapore, Chief Executive Officer of DAE, expressed his enthusiasm about the deal, highlighting its role in strengthening the company’s existing relationship with a prominent financial institution. “We are delighted to announce this transaction,” he said, “which reflects a further deepening of an already strong relationship with the DIFC Branch of one of the world’s leading banking organizations.”

The unsecured term loan serves a dual purpose. Primarily, it provides DAE with critical capital