DAE Renegotiating Airbus & Boeing Orders

05.07.2010 Aviation & Space
DAE Renegotiating Airbus & Boeing Orders

DAE Renegotiating Airbus & Boeing Orders

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Dubai Aerospace Enterprise (DAE) is renegotiating a massive order it made in 2007 to buy more than 200 aircrafts from Airbus and Boeing, a government official said in a report on Friday.
"We are in negotiations" with the European and American constructors, Abdulrahman al-Saleh, Director General of Dubai's Finance Department, was quoted as saying by UAE Newspaper The National.

Saleh was responding to reports that DAE Capital, the parent company's aircraft leasing unit, has stopped taking deliveries and making payments for more than 200 Boeing and Airbus planes it ordered for a total 28.7 billion dollars.
The negotiations were "positive," he said in the daily Al-Bayan, without giving any other details.
The comments came after French newspaper Les Echos reported that DAE Capital has for several weeks "rejected all aircraft deliveries and stopping making advance payments" related to the 2007 orders.
Les Echos reported that the financial crisis forced the company to concentrate on Dubai's Emirates Airlines and the new Al-Maktoum International Airport rather than leasing aircraft.
Meanwhile, the official WAM news agency reported on Friday that an Emirati, Mohammed Ahmed al-Zarooni, had been named as Head of DAE's Executive Committee to replace the American Head, Robert Genise.
"The Executive Committee has been assigned to manage and oversee the entire business and implement strategies and business plans," WAM said.
"The committee will also directly supervise the operations within the organization with an objective to improve organizational and financial results," the agency added.
DAE "is a huge economic project that will play a major role in the aerospace industry worldwide in the very near future," WAN quoted Zarooni as saying.



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