DAE IN AIRCRAFT DEAL WITH INDONESIA`S GARUDA

DUBAI, March 3 (Bernama) -- DAE Capital, the aircraft leasing and financial
business arm of Dubai Aerospace Enterprise (DAE), has signed an operating
leasing agreement with Garuda Indonesia for eight Boeing 737-800 aircraft.

The deal with Indonesia's flag carrier involves the sales and leaseback of
eight new B737-800 planes which are due to be delivered by Boeing from June
2009, according to a statement.

The short-haul aircraft will join DAE Capital's fleet portfolio and will
be dry leased for an extended term.

DAE Group managing director Dr Omar Sulaiman said: "The DAE business model
provides us with an opportunity to help airlines manage their operations, even
during a market downturn."

Meanwhile, DAE Capital chief executive officer (CEO) Bob Genise said once
delivered to Garuda, the airline's passengers would immediately benefit from
the modern design and comfort provided by these new aircraft.

"This operating lease also represents further evidence of how our flexible
leasing proposition can benefit airlines, improving both cash-flow and fleet
management," he said.

Garuda Indonesia president and CEO Emirsyah Satar said DAE was financing the
first eight of Garuda's total order of 50 Boeing 737-800 Next Generation
aircraft.

"These new aircraft are specifically configured for Garuda Indonesia with
more advanced avionics, more fuel efficient, eco-friendly engines, and a
state-of-the-art inflight entertainment system in all classes," he said.

In addition, he said, Garuda Indonesia had also ordered 10 B777-300ER to
back up the airline's network expansions to cope with business development in
2009 and beyond.
-- BERNAMA