DAE Secures $2.8B Credit Deal to Boost Global Liquidity

Dubai Aerospace Enterprise (DAE) has announced that it has signed new long-term unsecured revolving credit facilities worth US$2.8 billion. These new agreements will replace the company’s existing US$1.4 billion facility and will run until March 2031.

With this move, DAE’s total revolving credit facility capacity has increased to around US$4 billion, strengthening its financial position and liquidity.

The newly arranged facilities include a mix of funding sources. Around US$2.3 billion comes from conventional financing, while US$0.5 billion is raised through Shari’a-compliant funding. A total of 15 global financial institutions participated in this deal, showing strong investor confidence in DAE.

Emirates NBD and First Abu Dhabi Bank acted as key arrangers and coordinators for the conventional funding portion. Meanwhile, Abu Dhabi Islamic Bank served as the lead arranger for the Shari’a-compliant facility.

DAE CEO Firoz Tarapore said the company is pleased with the agreement, adding that the deal strengthens DAE’s liquidity and highlights its ability to access funding from both conventional and Islamic finance sources.

He also noted that the transaction reflects strong support from both local banking partners and leading global financial institutions, further reinforcing DAE’s position in the aviation services sector.