Dubai airport overtakes HK in passenger traffic

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Updated 01 February 2013
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Dubai airport overtakes HK in passenger traffic

DUBAI: Passenger flows through Dubai's main airport jumped 13.2 percent last year, helping the airport overtake Hong Kong to become the world's third busiest for international passenger traffic, airport authorities said yesterday.
Dubai's passenger traffic surged to 57.68 million people in 2012 from 50.98 million during 2011, Dubai Airports said. In the month of December, passengers rose 13.4 percent to 5.32 million.
Hong Kong International Airport said earlier this month that its passenger traffic increased 4.7 percent to 56.5 million people last year. The world's two busiest airports for international passenger traffic are London Heathrow and Paris Charles de Gaulle, according to Airports Council International.
India was Dubai International's single biggest country destination in terms of passenger numbers last year, with traffic rising 7.4 percent to 7.34 million.
Dubai opened a huge, purpose-built facility for A380 superjumbo jets this month and the airport expects to handle 65.4 million passengers in 2013, said Paul Griffiths, chief executive of Dubai Airports.
The airport's freight volumes rebounded toward the end of last year, helping total volume for 2012 rise 3.9 percent to 2.28 million tons. In December, cargo volume rose 6.5 percent to 201,949 tons.


Dubai Aerospace signs $480 million loan deal

Updated 21 May 2018
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Dubai Aerospace signs $480 million loan deal

DUBAI: Dubai Aerospace Enterprise (DAE), one of the world’s largest aircraft lessors, said on Monday it had signed a four-year loan deal for $480 million.
DAE, a government-controlled company set up in 2006, has become one of the world’s largest aircraft lessors after acquiring Dublin-based AWAS last year.
The acquisition tripled the Dubai aircraft leasing and maintenance company’s portfolio to about 400 aircraft worth more than $14 billion.
The $480 million loan, which includes both conventional and Islamic finance tranches, has a so-called “accordion facility” allowing it to be increased to up to $800 million.
With the loan, the company’s unsecured revolving credit facilities increase to between $1.125 billion and $1.445 billion, depending on final size of the latest deal, Firoz Tararpore, DAE’s chief executive, said in a statement.
“On a pro forma basis as of December 2017, if this facility is fully drawn and if the proceeds are used to pay down secured indebtedness, DAE’s percentage of unsecured debt would increase from 26 percent to a range of 31-34 percent.”
Last year, the company issued $2.3 billion in senior bonds split across three tranches last year, partly to finance the AWAS acquisition.
Tarapore said in an interview last week that DAE was in talks to buy a near-record total of 400 jetliners from Airbus and Boeing in an order that could be worth more than $40 billion at list prices.
Al Ahli Bank of Kuwait coordinated the latest loan deal and was also the lead arranger and joint bookrunner together with First Abu Dhabi Bank, while Noor Bank joined the deal as lead arranger.