Dubai Aerospace Enterprise repurchases $100mln of common shares

Expects transaction to have no material impact on capital adequacy metrics at year-end 2020 and in 2021

  
DAE’s new Boeing 737 MAX 8.

DAE’s new Boeing 737 MAX 8.

DAE/Handout via Thomson Reuters Zawya

DUBAI - Dubai Aerospace Enterprise (DAE) has announced that it had repurchased outstanding common shares worth US$100 million.

"The strength of our franchise, capital position and liquidity profile provides us the flexibility to accurately calibrate the capital we need to support the current and future needs of our growing business with maintaining appropriate margins and returns. We expect this transaction to have no material impact on our capital adequacy metrics at year-end 2020 and in 2021," Firoz Tarapore, Chief Executive Officer of DAE, commented.

© Copyright Emirates News Agency (WAM) 2020.


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