ID :
12690
Wed, 07/16/2008 - 16:13
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https://oananews.org//node/12690
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DAE orders 100 Airbus aircraft for US$12.6 billion
Farnborough - July 16, 2008 (WAM) - Dubai Aerospace Enterprise (DAE)
confirmed its order with Airbus for the purchase of 100 airplanes valued at US$12.6 billion at average list prices. The announcement was made on the second day of the Farnborough International Air Show.
The order follows the agreement signed between the two companies at the Dubai Air Show in November 2007 for 70 A320s and 30 A350s XWB with
deliveries starting in 2013 and concluding in 2022. The list price of
US$12.6 billion incorporates an associated deal with Rolls-Royce for the Trent XWB engines to power the A350 XWBs totalling US$1.2 billion at list prices.
Commenting on the order Sheikh Ahmed bin Saeed Al Maktoum, Chairman,
Emirates Group, said: "This order confirmation underlines our vision and strategy to make DAE a leader in the aircraft leasing market that is able to seize upon the significant aviation growth in the Middle East and other developing markets."
Speaking to 'Khaleej Times' Bob Genise, chief executive officer of DAE
Capital said the outlook for DAE remained strong despite the impact on the global aviation industry of record oil prices. "It is a long term industry, we are a long term participant and we are building a long term future. We have very attractive pricing with what we have negotiated with the manufacturers which will enable us to build our business for the long term."
Aviation analysts at Farnborough have suggested credit quality in the
aviation sector is likely to be strained under current conditions, a point acknowledged by Genise, "there will some issues with regard to fuel prices and some airlines will be in serious problems but we are evaluating that and looking at the credit quality of the airlines we are doing business with."
DAE Capital looking at a broad geographical in becoming a top leasing
company. "We will have a broad base and our target is to do about 25 per cent of our business in the Middle East and around 35 per cent in
Asia-Pacific and 25-30 per cent in Europe and the rest in the Americas." Genise also affirmed that DAE will look at all manufacturers when considering future orders adding, "there is no concentration, we try to split our portfolio predicated on what the market says and we will be a diversified owner of aircraft."
confirmed its order with Airbus for the purchase of 100 airplanes valued at US$12.6 billion at average list prices. The announcement was made on the second day of the Farnborough International Air Show.
The order follows the agreement signed between the two companies at the Dubai Air Show in November 2007 for 70 A320s and 30 A350s XWB with
deliveries starting in 2013 and concluding in 2022. The list price of
US$12.6 billion incorporates an associated deal with Rolls-Royce for the Trent XWB engines to power the A350 XWBs totalling US$1.2 billion at list prices.
Commenting on the order Sheikh Ahmed bin Saeed Al Maktoum, Chairman,
Emirates Group, said: "This order confirmation underlines our vision and strategy to make DAE a leader in the aircraft leasing market that is able to seize upon the significant aviation growth in the Middle East and other developing markets."
Speaking to 'Khaleej Times' Bob Genise, chief executive officer of DAE
Capital said the outlook for DAE remained strong despite the impact on the global aviation industry of record oil prices. "It is a long term industry, we are a long term participant and we are building a long term future. We have very attractive pricing with what we have negotiated with the manufacturers which will enable us to build our business for the long term."
Aviation analysts at Farnborough have suggested credit quality in the
aviation sector is likely to be strained under current conditions, a point acknowledged by Genise, "there will some issues with regard to fuel prices and some airlines will be in serious problems but we are evaluating that and looking at the credit quality of the airlines we are doing business with."
DAE Capital looking at a broad geographical in becoming a top leasing
company. "We will have a broad base and our target is to do about 25 per cent of our business in the Middle East and around 35 per cent in
Asia-Pacific and 25-30 per cent in Europe and the rest in the Americas." Genise also affirmed that DAE will look at all manufacturers when considering future orders adding, "there is no concentration, we try to split our portfolio predicated on what the market says and we will be a diversified owner of aircraft."
