DAE Capital confirms order for 100 planes

DAE Capital, a part of Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services company, yesterday confirmed its $12.6 billion (Dh46bn) (in list prices) order with Airbus for 100 aircraft.

While the company concluded contractual obligations for the aircraft purchase yesterday at the Farnborough International Air Show, DAE had signed an agreement with European aircraft manufacturer, Airbus, during the Dubai Air Show in November last year, for 70 aircraft from A320 family and 30 A350 XWBs (extra wide bodies).

DAE said the deliveries of the aircraft are due to begin in 2013 and conclude in 2022.

It added the list price of $12.6bn incorporates an associated deal with Rolls-Royce for its Trent XWB engines to power the A350 XWBs, worth some $1.2bn at list prices.

"DAE Capital has built the business from ground-up and has made impressive progress since its launch. With our industry-experienced management team and well-defined road map DAE

Capital will become one of the top leasing companies internationally," said to Bob Genise, Chief Executive Officer of DAE Capital.