Financially troubled Dubai Aerospace Enterprise (DAE) reduced its aircraft orders with Airbus, according to Airbus’ website.

Based in the United Arab Emirates, DAE reduced its orders for the Airbus A320 from 70 to 52 jets and for the Airbus A350s from 30 to 23 jets. The total value of these cancellations is about $3 billion, based on average list prices.

Recent data from Boeing Co. also showed that DAE canceled 10 orders for 777s and 15 orders for 787s. In July 2010, it was reported that DAE stopped taking deliveries of new aircrafts and was no longer making payments to Boeing and Airbus.