DAE repurchases US$250 million of common shares

Dubai, U.A.E., 27 March 2019: Dubai Aerospace Enterprise (DAE) Ltd. announced that it had repurchased outstanding common shares worth $250 million. DAE also announced that it had received $250 million in connection with the early partial repayment of a Note Receivable from certain shareholders.

Firoz Tarapore, Chief Executive Officer of DAE commented: “We are committed to maintaining a strong balance sheet and generating best-in-class margins, returns and leverage. Repurchasing our shares at this time allows us to optimize the capital we need to run our business efficiently.”