Dubai leasing firm makes $1 billion turboprop order | Reuters:
"Dubai Aerospace Enterprise (DAE) is to spend up to $1 billion on new turboprop planes, the aircraft leasing company said on Wednesday, betting on growth in Asia's crowded regional and domestic markets.
Having had to cancel big orders for commercial jetliners during Dubai's debt crisis, government-owned DAE has turned to turboprops used for short-haul trips for fewer than 100 passengers. Such aircraft can be operated more efficiently than many jets, particularly in an era of high oil prices.
DAE, the largest aircraft leasing company in the Middle East, said it had ordered 20 turboprop commercial aircraft from French-Italian manufacturer ATR, with an option for a further 20 taking the deal's total potential value to $988 million."
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