DAE repurchases US$450 million of common shares

posted on 3rd January 2020 by Eddie Saunders
DAE repurchases US$450 million of common shares

Dubai Aerospace Enterprise (DAE) Ltd. announced that it had repurchased outstanding common shares worth US$450 million. DAE also announced that it had received US$450 million in connection with the early partial repayment of a Note Receivable from certain shareholders.

Firoz Tarapore, Chief Executive Officer of DAE commented: “Our strong balance sheet combined with our best-in-class margins allowed us to further optimize our balance sheet prior to year-end. We are committed to running our business with low levels of leverage and optimal amounts of capital.”

Dubai Aerospace Enterprise 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.