Dubai Aviation Industries announced today that it has ended the first quarter of this year with available liquidity of approximately $ 2.8 billion (about 10.27 billion dirhams). The company's fleet of aircraft owned, managed and managed by it has exceeded 400 aircraft.
During the first quarter of 2020, the company sold and transferred ownership of 15 aircraft, acquired four aircraft on behalf of investors, while transferring or extending the lease contracts of eight aircraft.
"In these unprecedented times, (Dubai Aviation Industries) has prepared itself to work calmly and balance the needs of all of our important elements - employees, customers, bond holders, banks and shareholders," said Feroz Tarbour, CEO of the company.
He added that during the past two years, the company has:
- Monitor large liquidity to protect its business from unexpected market developments.
Selling assets more than buying them to proactively manage the company's asset portfolio.
Refrain from making high-priced orders from OEMs to avoid excessive obligations.
Establish a large-scale aircraft asset management business unit to help investors overcome the challenges associated with pumping money into the sector.
Trappor pointed out that these measures contributed to the creation of a very strong budget, as we currently have more than $ 2.8 billion in available liquidity and very simple liquidity requirements of approximately $ 430 million for the maturity of bonds and capital expenditures over the next 12 months.