DAE bids to alter aircraft orders - The National Newspaper

Dubai Aerospace Enterprise (DAE) is negotiating to restructure more than 200 aircraft orders worth US$27 billion (Dh99.16bn) with Airbus and Boeing, a senior Dubai finance official says.

The state-backed company made headlines at the 2007 Dubai Airshow when it announced the huge orders with the two aircraft makers and plans to build up a global presence in aircraft leasing.

But several media reports, citing unidentified sources, said the firm had since stopped making payments, was not taking delivery of the planes and was seeking to get out of its contractual obligations by shifting them to Dubai’s two state-owned carriers Emirates Airline and flydubai.