Dubai Aerospace Enterprise (DAE) Ltd. announced that it had repurchased outstanding common shares worth US$100 million.
Firoz Tarapore, Chief Executive Officer of DAE commented: “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.”
Dubai Aerospace Enterprise (DAE) Ltd. is a globally recognized aerospace corporation with two divisions: Aircraft Leasing and Engineering. Headquartered in Dubai, DAE serves over 125 airline customers in over 60 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle.
DAE’s award-winning Aircraft Leasing division has an owned, managed, committed and mandated to manage fleet of approximately 425 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$16 billion. DAE’s Engineering division serves customers in Europe, Middle East, Africa and South Asia from its state-of-the-art facility accommodating up to 15 wide and narrow body aircraft. It is authorized to work on 13 aircraft types and has regulatory approval from over 25 regulators globally.