Dubai Aerospace Enterprise (DAE) has signed a $300 million three-year unsecured term loan agreement with Bank of China (Dubai Branch), Bank of China Limited (London Branch), and Bank of China (Hong Kong) Limited.
The loan proceeds will be used for general corporate purposes, including future financing requirements.
DAE CEO Firoz Tarapore stated that the agreement provides liquidity to support the company’s operations and fleet strategy.
Pan Xinyuan, General Manager of the Bank of China’s Dubai Branch, stated that the loan reflects the bank’s commitment to supporting aviation clients through its global network and is part of its broader effort to facilitate business ties between China and the UAE.
DAE, a major aircraft lessor based in Dubai, owns and manages a fleet of over 400 aircraft and has leasing agreements with more than 100 airline customers worldwide.
