10.27 billion dirhams of liquidity available at Dubai Aviation Industries

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Dubai – Mubasher: Dubai Aviation Industries revealed yesterday that it ended the first quarter of 2020 with available liquidity amounting to 10.3 billion dirhams ($ 2.8 billion).

According to a press release, the company sold and transferred ownership of 15 aircraft in the first three months of this year, extending rental contracts or transporting eight aircraft, and it acquired four aircraft on behalf of the investors.

The number of the company’s fleet in charge of managing, managing and owning the aircraft has reached 400.

The company CEO said it has very simple liquidity requirements of about $ 430 million for the maturity of the bonds and capital expenditures over the next 12 months.

In March of this year, Dubai Aviation Industries Company Limited disclosed Delegating its Board of Directors and shareholders To add $ 300 million to the bond repurchase program that will be implemented through open market operations.

Dubai Aviation Industries is a wholly owned company of the Dubai Government Investment Corporation (the government’s sovereign fund), and the company’s leasing and engineering divisions provide services to more than 125 airline customers worldwide from its seven locations in Dublin, Amman, Singapore, and the United States of America..

The aircraft rental unit Dubai Aerospace Capital owns a fleet of owned, managed and on-demand aircraft comprising approximately 355 Airbus, ATR and Boeing aircraft with a total value of $ 14 billion..

At the beginning of last month, Dubai Aviation Industries Company Limited revealed The bond repurchase program resumes What the company started since the middle of last year.

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