Dubai Aerospace Enterprise - Aerospace Industry Headlines

15th July, 2008

DAE CONCLUDES AIRBUS ORDER
DAE Capital confirms order for 100 new Airbus

DUBAI, UAE — Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, today confirmed its order with Airbus by concluding contractual obligations for the purchase of 100 airplanes valued at $12.6 billion at average list prices.

The confirmation follows an agreement signed by the two companies during the Dubai Air Show, for 70 aircraft from A320 family and 30 A350 XWBs with deliveries to start in 2013 and conclude in 2022. The list price of $12.6 billion incorporates an associated deal with Rolls-Royce for its Trent XWB engines to power the A350 XWBs, worth some $1.2 billion at list prices.

HH Sheikh Ahmed Bin Saeed Al Maktoum, said: “This order confirmation underlines our vision and strategy to make DAE a leader in the aircraft leasing market, that is able to seize upon the significant aviation growth in the Middle East region and in other developing markets.”

H.E. Dr. Omar bin Suleiman, DAE Group Managing Director, said: “With our key location in Dubai, we continue to develop a world-class aircraft leasing and finance operation. DAE Capital has a proposition few others can match. As one of six divisions in DAE, we offer a synergised cluster of aerospace services that allow customers to benefit from a world-class shared knowledge and service pool.”

Bob Genise, CEO of DAE Capital, said: “DAE Capital has built a business from ground-up and has made impressive progress since its launch. With our industry-experienced management team and well-defined road map DAE capital will become one of the top leasing companies globally.”

Tom Enders, Airbus President and CEO, said: “DAE’s order is a tremendous endorsement of our aircraft products and in Airbus the company and we thank them for this. The A350 XWB and the A320 products are leaders in their class. DAE aims to grow into a leading aerospace company providing customers with comprehensive world-class knowledge and services that is unique in aircraft leasing and Airbus looks forward to building on this partnership in the years to come.”