DAE Capital, leasing arm of Dubai Aerospace Enterprise (DAE), has cancelled all of its aircraft orders with Airbus, worth $5.8 billion (in list prices) for 45 planes
Dubai: DAE Capital, leasing arm of Dubai Aerospace Enterprise (DAE), has cancelled all of its aircraft orders with Airbus, worth $5.8 billion (in list prices) for 45 planes.
Confirming the same, Justin Dubon, a Toulouse, France-based spokesperson for Airbus told Gulf News in a statement:
"Our latest O&D's (orders and deliveries) confirms that DAE cancelled 34 A320s and 11 A350-900 and is no longer an Airbus customer." Questions sent to DAE went unanswered.
Poor market conditions
DAE Capital had placed an order for 200 aircraft in 2007 divided equally between Airbus and Boeing, aiming to become one of the world's biggest aircraft lessors.
And last week, its Managing Director, Khalifa H Al Daboos, said that organisational changes are on cards for the company, following the exit of Robert Genise, the CEO of DAE Capital.
© Gulf News 2011
