DAE ends first-quarter 2020 with available liquidity of US$2.8 billion

Dubai Aerospace Enterprise (DAE) has ended the first-quarter 2020 with available liquidity of approximately US$2.8 billion. DAE’s owned, managed and mandated-to-manage fleet exceeded 400 aircraft. During the first quarter, DAE sold or novated 15 aircraft, acquired four aircraft and transitioned or extended leases on eight aircraft.

Firoz Tarapore, DAE’s CEO said, “In these unprecedented times, DAE has positioned itself to operate calmly and to balance the needs of all our important constituents – employees, customers, bondholders and banks, and shareholders.