Middle East : DAE grows wide-body portfolio

Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, has acquired three Airbus aircraft ordered by Kingfisher Airlines in a sale and leaseback deal. DAE Capital, the aircraft leasing and financing business of the Dubai government, announced the completion of the acquisition of three new Pratt and Whitney-powered Airbus A330-200 wide-body aircraft ordered […]


Dr Omar Bi Sulaiman Dubai Aerospace Enterprise


Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, has acquired three Airbus aircraft ordered by Kingfisher Airlines in a sale and leaseback deal.

DAE Capital, the aircraft leasing and financing business of the Dubai government, announced the completion of the acquisition of three new Pratt and Whitney-powered Airbus A330-200 wide-body aircraft ordered by Kingfisher Airlines from Airbus.

DAE Capital currently has 33 aircraft on its books, with a further 200 Boeing and Airbus aircraft on order with deliveries commencing from 2010.

Dr Omar Bin Sulaiman, DAE Group MD, said: “The continuing growth of DAE’s leasing business reflects our position as an emerging power within the aviation and aerospace sector. The Middle East is recognised for being one of the world’s most ambitious and dynamic regions and our goal is to continue to develop DAE business synergies and fully transform the aviation experience.”

Bob Genise, DAE Capital CEO, said: “We continue to grow the business and broaden the portfolio based on customer demand. This latest acquisition is a welcome addition to our fleet and it’s our intention to continue to expand the business through 2008 and beyond.”