A troubled Dubai leasing firm has cancelled all its remaining Airbus orders worth $5.8 billion, it emerged on Thursday, as the after-shocks of the financial crisis dampened celebrations of record new jet sales.
The clearout by DAE Capital failed to spook investors in Airbus parent EADS , which is well ahead of Boeing this year, but delivered a blow to Dubai at a time when the emirate is touting its recovery from a crippling 2009 debt crisis.
It also raises questions over the fate of about $9 billion in unfilled orders by the same leasing company from Boeing , which is due to update its order book later on Thursday.
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