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Dubai Aerospace Enterprise records $2.8bn liquidity

Dubai Aerospace Enterprise records $2.8bn liquidity
The company has sold 15 aircraft

UAE – Mubasher: The liquidity of Dubai Aerospace Enterprise (DAE) totalled $2.8 billion by the end of the first quarter of 2020.

During the first three months of 2020, the company, which owned, managed, and mandated-to-manage a fleet of more than 400 aircraft, has sold 15 aircraft, acquired four aircraft, and transferred or extended leases on 8 aircraft, according to a recent press release.

Meanwhile, the company has modest liquidity requirements of around $430 million for bond maturity and capital expenditures over the next 12 years.

Notably, in early March, the company has resumed the bond repurchase programme, which was launched in mid-2018.