Dubai, U.A.E., 27 March 2019 – Dubai Aerospace Enterprise (DAE) Ltd. announced that it had repurchased outstanding common shares worth $250 million. DAE also announced that it had received $250 million in connection with the early partial repayment of a Note Receivable from certain shareholders.
Firoz Tarapore, Chief Executive Officer of DAE commented: “We are committed to maintaining a strong balance sheet and generating best-in-class margins, returns and leverage. Repurchasing our shares at this time allows us to optimize the capital we need to run our business efficiently.”
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Dubai Aerospace Enterprise (DAE) Ltd. is a globally recognized aerospace corporation and one of the largest aircraft leasing companies in the world. Headquartered in Dubai, DAE’s leasing and engineering divisions serve over 125 airline customers around the world from its seven locations in Dubai, Dublin, Amman, Singapore and the US.
DAE’s award-winning leasing division DAE Capital has an owned, managed and committed fleet of approximately 355 Airbus, ATR and Boeing aircraft with a fleet value of US$14 billion. More information can be found on the company’s web site at www.dubaiaerospace.com.
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