DAE announces Q3 2018 strategic and operational highlights

Dubai, U.A.E., 11 October 2018 – Dubai Aerospace Enterprise (DAE) Ltd. today announced its Q3 2018 key strategic and operational highlights for its leasing division, DAE Capital:

Strategic highlights:

S&P Global Ratings upgraded DAE’s corporate credit rating to BB+
Moody's Investors Service revised DAE’s rating outlook to positive
DAE Board of Directors approved a US$300 million bond repurchase program
DAE closed its US$800 million revolving loan facility, which was launched in May of this year
DAE took delivery of its first two Boeing 737 MAX 8 aircraft
DAE signed an MOU with Emirates Aviation University to cooperate on learning and work experience programs

Operational highlights:

Owned, managed and committed aircraft in fleet: 365
Customers: 109. Countries: 56
Portfolio Utilization: 99.9%
New aircraft purchased: 3
Aircraft sold: 13
Lease transactions completed: 8
Average age of owned fleet: 6.3 years
Average lease term remaining on owned fleet: 6.2 years