Dubai Aeronautics entered into two agreements to raise $800 million to enhance its financial liquidity.
The company did not disclose the details of the two deals, merely declaring that each transaction was arranged through one of the region's leading banks with an average maturity of 5.5 per year.
Feroz Tarabour, CEO of the company, said the signing of these financing facilities underscores Dubai Aerospace Industries' commitment to maintaining exceptional liquidity and a strong public budget, stating that "we do not have short-term maturities for debt, providing considerable flexibility in the current interest rate environment."
Dubai Aerospace Industries Limited is a Dubai-based aviation services company that caters to more than 170 airline customers in 65 of its seven locations in Dubai, Dublin, Oman, Singapore, Miami, New York and Seattle.
The company's aircraft leasing division has a fleet of about 500 aircraft ranging from owned, managed, placed and commissioned from the Airbus, ATR and Boeing models, valued at over $16 billion.
In January 2021, Dubai Aeronautics raised $1.2 billion from the issuance of dollar-denominated bonds.
