DAE raises additional $490 million

Dubai Aerospace Enterprise (DAE) has signed an agreement to raise an additional $490 million from three loan agreements. These agreements will have maturities of between three and seven years. Commenting on the funds raised, Firoz Tarapore, chief executive officer of DAE, commented: “We continue to bolster our liquidity cushion to support our growth ambitions and opportunities. Our very strong balance sheet and solid operating model continue to attract lenders, new and existing, to DAE.”