Receives credit rating upgrade from Moody’s and S&P Global
Dubai Aerospace Enterprise (DAE) Ltd. has announced its 2018 key strategic and operational highlights for its leasing division, DAE Capital.
DAE Capital received an investment grade corporate credit rating of BBB+ from KBRA and received an upgrade of existing corporate credit ratings from Moody’s and S&P Global.
The company issued $3 billion of new unsecured debt and announced a debt repurchase program of up to $600 million.
In 2018 DAE took delivery of its first five Boeing 737 MAX 8 aircraft. It also signed an MOU with Emirates Aviation University to cooperate on learning and work experience programs.
On the operational front DAE owned, managed and committed 354 aircraft in fleet for 109 customers in 57 countries.
Utilizing 100% of its portfolio DAE bought 28 new aircraft and sold 50 in 2018.
59 lease transactions were completed last year. Average age of its owned fleets stood at 5.9 years with an average lease term of 6.4 years remaining on the same.