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Dubai Aerospace Enterprise Ltd. has signed a $300 million three-year unsecured term loan with Bank of China (Dubai) Branch, Bank of China Limited, London Branch and Bank of China (Hong Kong) Limited.
The aircraft lessor, which is fully owned by Investment Corporation of Dubai, will use the loan for general corporate purposes and future financing needs of the business.
Firoz Tarapore, CEO of DAE, said the 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”.
In March 2024, DAE signed $420 million 5-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited.
As of March 31, 2025, the company had a total debt of $8 billion, of which 80% was unsecured. Net debt-to-equity ratio was 2.43x.
(Writing by Brinda Darasha; editing by Seban Scaria)
