DUBAI, UAE — Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, has today signed a $13.5 billion letter of intent with Airbus for the purchase of up to 100 aircraft. The price 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, Chairman of DAE, said: “We are confident that DAE Capital will quickly become a leader in the aircraft leasing business, and this deal underlines that confidence.” DAE Capital, the group’s aircraft leasing, and financing business, is expanding its fleet with the purchase of 70 aircraft from A320 family and 30 A350 XWBs. Deliveries will start in 2013 and conclude in 2022.
“In six short months DAE Capital has built a business from scratch through its strong management team and clear vision of becoming one of the top leasing companies globally. The letter of intent signed today confirms our seriousness about accomplishing this in the near future,” stated DAE Group Managing Director, Dr. Omar bin Suleiman
Bob Genise, DAE Capital CEO, said: “I am delighted to confirm this significant investment with Airbus, which will drive the presence of DAE Capital in the future leasing market. This agreement will help us meet the demand for new aircraft, particularly in the Middle East and Asia, over the next decade and more. We are perfectly placed to secure our position by taking advantage of the significant growth of the aviation industry within this region and other emerging global markets.”
Headquartered in Dubai, DAE Capital aims to quickly establish itself as a world-class aircraft leasing business, with the aim of becoming one of the top aircraft leasing companies in the world.
Tom Enders, Airbus President and CEO, said: “This agreement is a tremendous endorsement of Airbus aircraft. We are delighted DAE Capital has chosen to base its fleet on our products and we look forward to a long term partnership. DAE’s cluster of aerospace services allows customers to benefit from a world-class knowledge and service pool that is unique in aircraft leasing. The A320 really is the world’s leading aircraft in its category and so is the A350 XWB in its class.”
About DAE Capital
DAE Capital is part of Dubai Aerospace Enterprise, a fast developing global aerospace, manufacturing and services corporation made up of six divisions. The others are DAE Airports, DAE Engineering, DAE Manufacturing, DAE Services and DAE University.
Being established as an aircraft leasing, finance and insurance business, DAE Capital aims to become one of the largest aircraft leasing companies in the Middle East serving an international market, inside the next decade. It aims to support the incredible demand for new aircraft, particularly in the Middle East and Asia, with a balanced quality portfolio of single-aisle and wide-body aircraft.
DAE Capital offers clients and investors a proposition few others can match. As one of six divisions of DAE, the group provides a synergised cluster of aerospace services, allowing customers to benefit from a world-class shared knowledge and service pool. Its unrivalled position allows it to provide advanced value-added services to airlines in conjunction with the other DAE segments such as engineering, maintenance, repair and overhaul.
DAE Capital seeks to become an integral part of the global aerospace industry and a leading player on the world stage in terms of aircraft leasing and finance.
DAE is a fast developing global aerospace, manufacturing and services corporation made up of six divisions – DAE Airports, DAE Capital, DAE Engineering, DAE Manufacturing, DAE Services and DAE University.
Headquartered in Dubai, the group is growing through a series of phased developments and acquisitions to become a global player and to produce an integrated aerospace cluster, based at Dubai World Central – the new 140 square kilometre airport and logistics city being constructed in Jebel Ali, Dubai. It is forming international partnerships at the highest level of industry with the aim of establishing one of the most innovative and successful businesses in the global aerospace industry within the next decade.
DAE’s shareholders include EMAAR, ISTITHMAR, Dubai Airport Free Zone Authority (DAFZA), Dubai International Capital, DIFC Investments LLC, the Government of Dubai and AMLAK Finance.
A leading aircraft manufacturer with the most modern and comprehensive product line on the market, Airbus is a global company with design and manufacturing facilities in France, Germany, the UK, and Spain as well as subsidiaries in the U.S., China, Japan and in the Middle East. Headquartered in Toulouse, France, Airbus is an EADS company.
Source: Dubai Aerospace Enterprise
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