Dubai Aerospace Enterprise, the UAE aircraft lessor with a global fleet worth some $14 billion, is mulling an issuance of at least a $500 million sukuk, its chief executive said on Monday.
The Dubai Government-controlled company, which became one of the largest leasers of aeroplanes in the world after acquiring Dublin-based Awas in August, may tap the market later this year or in 2019 depending on “market appetite”, Firoz Tarapore, chief executive of DAE, said on the sidelines of an aerospace conference in Abu Dhabi, without elaborating on the change in timeline or discussions with investors.
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“It’s 50-50 whether we do something this year or next year,” Mr Tarapore said. “Whatever the market will take, but $500m or more.”
The aircraft leasing company last year said it plans to issue a sukuk by mid-2018 without specifying how much it could raise.
In 2017, DAE raised $2.3bn in senior bonds split across three tranches in the US to fund its acquisition of Awas. That purchase propelled DAE into the top ranks of global players, swelling its fleet to nearly 400 aircraft.
DAE Capital, the leasing arm of Dubai Aerospace Enterprise, formed an asset management unit that will seek to build a $5bn portfolio of assets in the coming years, the company said in January.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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Producer: JP Films, Zee Studios
Director: JP Dutta
Cast: Jackie Shroff, Sonu Sood, Arjun Rampal, Siddhanth Kapoor, Luv Sinha and Harshvardhan Rane
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One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
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4.35pm: Tilal Al Khalediah
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7pm: Flood Zone
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The specs
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Torque: 637Nm at 5,150rpm
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Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
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FIXTURES
All times UAE ( 4 GMT)
Friday
Saint-Etienne v Montpellier (10.45pm)
Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)
Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)
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Engine: 3.0-litre 6-cyl turbo
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Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
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Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
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Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
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126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
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Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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Engine: Direct injection 4-cylinder 1.4-litre
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
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