Dubai Aerospace Enterprise (DAE), UAE’s aircraft lessors, said on Monday it had signed a four-year loan deal for USD480mn. DAE 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 USD14bn. The USD480mn loan, which includes both conventional and Islamic finance tranches, has a so-called “accordion facility” allowing it to be increased to up to USD800mn. With the loan, the company’s unsecured revolving credit facilities increase to between USD1.125bn and USD1.445bn, depending on final size of the latest deal, Firoz Tararpore, DAE’s chief executive, said in a statement.