DAE delivers first Boeing 737-800 NG to Garuda

DUBAI, UAE, 2 AUGUST, 2009 - DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), celebrated last week in Jakarta, Indonesia the first Boeing 737-800 Next-Generation aircraft delivery to Garuda the national flag carrier of Indonesia.

The delivery is one of eight new B737-800 aircraft to be delivered to Garuda between June 2009 and April 2010. The aircraft has a new look and provides passengers with pleasing surroundings and comfort.

H.E. Dr. Omar Bin Sulaiman, DAE Group Managing Director, said: "DAE's delivery of the first B737-800 aircraft to Garuda highlights the expansion of our fleet portfolio and the opportunity to work with Indonesia's largest carrier." He added: "It also builds up on DAE's recognition as a worldwide aviation source,"

Bob Genise, CEO of DAE Capital said: "This first delivery marks an addition to our fleet and our intention to continuously expand our business with Garuda. The remaining 7 Next-Generation aircraft are expected to be delivered to Garuda over the coming months and will form the backbone of Garuda's single-aisle fleet for the foreseeable future."

Emirsyah Satar, President & CEO Garuda Indonesia said: "Garuda Indonesia welcomes the outstanding cooperation with DAE Capital. This mutualism scheme has been providing more opportunity for Garuda Indonesia and DAE Capital to flourish together."

DAE Capital's fleet currently comprises 36 single aisle and wide-body aircraft. Furthermore, it has an additional 25 aircraft contracted of which 16 are on a purchase and lease back basis. DAE Capital has committed to invest in a fleet portfolio with an estimated market value of $27 billion that will gradually encompass 100 Airbus A320 family and A350 XWB aircraft, and 100 Boeing 737 Next Generation aircraft and wide-body planes, which will commence delivery in 2010.

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About DAE Capital: www.daecapital.com
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 Engineering, DAE Services, DAE Manufacturing, DAE Airports, and DAE Flight Academy.

Being established as an aircraft leasing and finance business, DAE Capital aims to become one of the largest aircraft leasing companies serving an international market, inside the next decade. It aims to support the incredible demand for new aircraft globally, 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.

About DAE: www.dubaiaerospace.com
DAE is a fast developing global aerospace, manufacturing and services corporation made up of six divisions: DAE Capital, DAE Engineering, DAE Services, DAE Manufacturing, DAE Airports, and DAE Flight Academy.

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.

About Garuda Indonesia: www.garuda-indonesia.com
Garuda Indonesia is the national flag carrier of Indonesia, with fleet of 56 single aisle and wide body jet aircraft. The airline currently flies to 48 destinations in Indonesia, Australia, China, Japan, Korea, Middle East and South East Asia.

After carrying out an organisational restructuring and business transformations, Garuda Indonesia has succeeded to turn around to profit consecutively in 2007 and 2008.

Garuda Indonesia continually improves its quality of services through improvement programs such as Indonesia hospitality (Garuda Experiences), Internet booking and networks expansions.

As part of an on-going fleet revitalization program, Garuda Indonesia has ordered 50 Boeing 737-800 Next Generation aircraft and 10 Boeing 777-300 Extended Range aircraft for delivery commencing 2009.

For further information contact:
Munther Juma on +971 50 4502333 / Munther.juma@dubaiaerospace.com

Noora AlMazrooie on +971 50 6513184 / Noora.almazrooie@dubaiaerospace.com