Wednesday 15 December 2010

Dubai Aerospace Said to Weigh Canceling More Airbus, Boeing Orders in 2011 - Bloomberg

Dubai Aerospace Enterprise Ltd., the state-owned aviation services and leasing company, may cancel more aircraft orders with Airbus SAS and Boeing Co. next year as the emirate battles the impact of the global credit crisis, two people with knowledge of the matter said.

DAE plans to make adjustments to its order book with the manufacturers and the number of cancelations may be similar to those made this year, said one of the people, who asked not to be identified because the discussions are private.

The company, set up in 2006 with the aim of becoming one of the world’s biggest airplane lessors, in July dropped orders for seven Airbus wide-body planes and 18 narrow-body jets, according to figures released by Airbus. A contract for 15 787 Dreamliners was removed Aug. 5 from Boeing’s online backlog listing.

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