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Dubai Aerospace Enterprise Ltd (DAE) has signed agreements for new long‑term, unsecured revolving credit facilities totaling $2.8 billion, increasing the aircraft lessor’s total revolving credit facility capacity to approximately $4 billion.
The new facilities, which mature in March 2031, replace an existing $1.4 billion facility. They comprise commitments in both US dollars and UAE dirhams, including $2.3 billion in conventional funding and $0.5 billion in Shariah‑compliant liquidity provided by 15 global financial institutions.
Emirates NBD and First Abu Dhabi Bank acted as lead arrangers, bookrunners and coordinators on the conventional tranche, while Abu Dhabi Islamic Bank served as lead arranger for the Shariah‑compliant facility.
Intermittent airspace and airport closures linked to the conflict involving Iran have forced Gulf carriers to cut schedules and ground aircraft. Emirates, Oman Air and Jazeera Airways are among DAE’s Middle East clients, according to the lessor’s website. A recent CreditSights report noted that 12% of DAE Capital’s fleet is placed with airlines in the Middle East.
(Writing by Brinda Darasha; editing by Daniel Luiz)
