Wednesday 29 April 2009

Dubai Aerospace Inks $500M Financing Deal With US Ex-Im Bank

DAE Capital, the aircraft leasing and financial business arm of government-owned Dubai Aerospace Enterprise, Wednesday said it signed a $500 million financing commitment with U.S.-based Export-Import Bank.

The deal will finance the delivery of 10 Boeing (B) aircraft by guaranteeing commercial loans or providing the loan itself.

The aircraft will be allocated for purchase and leaseback agreements with Emirates Airline and Garuda Indonesia, DAE said in an emailed statement.

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