Dubai 2007: Dubai enters the big league

Posted by admin on February 6, 2008

$27 billion leasing deal involves 200 Boeing and Airbus aircraft

Dubai went from aircraft leasing “wannabe” to a leading global player yesterday when it signed deals worth a total of $27 billion to buy 200 aircraft. Earlier reports that the country’s commercial aerospace arm, DAE Capital, planned a gradual build-up to a fleet of 120 aircraft were buried as the firm placed 100-aircraft orders each with Boeing and Airbus.

The huge orders mean that by yesterday evening the total number of orders announced at the Dubai show was well above $80bn and likely to smash through the $100bn mark by the end of the week.

DAE was launched 18 months ago with a war chest of $15bn to get six major businesses off the ground. Yesterday’s $26bn worth of deals for just one of the businesses suggests that the capital available is substantially higher. DAE group managing director HE Omar bin Suleiman says: “We started with $15bn. Now the sky is the limit!” He added that the strategy wa

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