Dubai Aerospace Enterprise (DAE) has arranged $800 million in loans and revolving credit to fund “general corporate purposes.” The fresh capital, available on a three-year term, has come from a group of banks including Citibank, Deutsche Bank, Emirates Bank International, Lloyds TSB Bank and Noor Islamic Bank.
Dubai International Capital
Record numbers of new aircraft orders, particularly for commercial jetliners, have driven expansion at aerospace precision components and assemblies manufacturer Doncasters (Hall 4, Stand G10). Furthermore, under the new ownership of Dubai Investment Capital (DIC), the UK company is better positioned to invest in its future, according to group chief executive Eric Lewis.
Rolls-Royce has awarded Dubai International Capital-owned Doncasters (Stand W216) a contract to repair and overhaul front combustion liners in annular combustors on several turbofans. Under the agreement, Rolls-Royce will subcontract all RB211-535C/-524 work and some of the -535E4 work to Doncasters, while the Airmotive division of Doncasters Aerospace Components in Shrewsbury, UK, handles repairs.
Precision components and assemblies manufacturer Doncasters (Hall 2B Stand L11c) is reaping the rewards of several years’ hard work as it delivers engine-ready parts to OEMs and third-tier suppliers.
Dubai investment firm Dubai Aerospace Enterprise (DAE) at press time was in “active discussions” with Washington, D.C.-based private-equity firm Carlyle Group to acquire its Standard Aero company and Landmark Aviation, particularly its maintenance, repair and overhaul (MRO) businesses. According to sources familiar with the process, DAE is expected to pay more than $1.5 billion for the two firms.
Dubai Aerospace Enterprise is in “active discussions” with Washington, D.C.-Carlyle Group to acquire Landmark Aviation, and in particular its MRO businesses. At press time a definitive agreement was pending, but no timetable was given.
The completion two months ago of Dubai International Capital’s £700 million ($1.3 billion) takeover of Doncasters has brought stability and fresh opportunity to the UK engineering group. Chief executive Eric Lewis has confirmed that the firm will now target acquisition opportunities in North America and Asia.