Dubai Aerospace Seeks to Renegotiate Airbus, Boeing Orders, Echos Reports - Bloomberg

Dubai Aerospace Enterprise is seeking to renegotiate plane orders with Airbus SAS and Boeing Co. as it attempts to reduce its debt levels, French daily Les Echos reported, citing unidentified people.

DAE has ordered around 220 planes from the two companies and for several weeks has stopped taking plane deliveries and making payments, according to the newspaper. DAE has so far taken only four of the 118 planes which it ordered from Boeing in 2007, and none of the 100 Airbus planes, Les Echos said.

DAE declined to comment, while an unidentified person at Airbus said only that the orders were still in the order book, Les Echos said.