Dubai Aerospace Enterprise (DAE), an aircraft leasing company, has successfully secured a $300 million loan from the Bank of China. This financing will be utilized for general corporate purposes and to support upcoming financial requirements, according to a statement released by the company.

The loan is structured as a three-year unsecured term loan and was issued by the Bank of China’s branches in Dubai, London, and Hong Kong. Firoz Tarapore, the CEO of DAE, stated that this transaction provides the company with additional liquidity to meet the ongoing needs of their airline customers while also maintaining a modern and efficient fleet.

Pan Xinyuan, the general manager of the Bank of China (Dubai) Branch, emphasized the institution’s commitment to enhancing China-UAE relations and supporting the growth of enterprises in the UAE. This loan follows DAE’s previous funding of AED2.75 billion ($750 million) secured in April 2024 from Dubai-listed Emirates NBD, aimed at addressing general corporate needs and financing requirements.

In a recent strategic move, DAE agreed to sell 75 aircraft to two unnamed buyers to realign its fleet. Additionally, in March, the company acquired 17 aircraft for $1 billion from various sellers. DAE currently serves over 200 airline customers across more than 85 countries and boasts a fleet of 750 aircraft, including models from Airbus, ATR, Embraer, and Boeing, with a total fleet value of $22 billion.