DAE Capital, the aircraft leasing and financing division of Dubai Aerospace Enterprise (DAE), has signed a Memorandum of Understanding (MoU) to buy 100 aircraft from Airbus. The order is for 70 A320 Family and 30 A350 XWB Family aircraft.
DAE Capital aims to become a leading lessor based in the Middle East. DAE Capitalï¿½s parent company DAE is a world class aerospace company headquartered in Dubai. It manages a number of activities including airport development and operations, engineering, manufacturing and services.
Boeing Wins $13.7 Billion Order From Dubai Aerospace
Nov. 12 (Bloomberg) -- Boeing Co., the world's second-biggest manufacturer of commercial airliners, won an order for 100 planes valued at $13.7 billion from Dubai Aerospace Enterprise, the Persian Gulf emirate's vehicle for creating one of the world's biggest airport and aviation-services companies.
Dubai Aerospace ordered 70 of Chicago-based Boeing's 737 Next Generation aircraft, 15 of the 787 Dreamliner model, 10 777-300ERs and five 747-8 freighters for the company's leasing unit. Dubai Aerospace aims to build DAE Capital into a multibillion-dollar lessor that competes with AIG's International Lease Finance Corp. and General Electric Co.'s GE Commercial Aviation Services.
KC135TopBoom From United States of America, joined Jan 2005, 12235 posts, RR: 51
Reply 1, posted (7 years 5 months 1 week 3 days 9 hours ago) and read 8400 times:
Hmmm. The wording looks very odd.
"DAE Capital, the aircraft leasing and financing division of Dubai Aerospace Enterprise (DAE), has signed a Memorandum of Understanding (MoU) to buy 100 aircraft from Airbus.
Dubai Aerospace ordered 70 of Chicago-based Boeing's 737 Next Generation aircraft, 15 of the 787 Dreamliner model, 10 777-300ERs and five 747-8 freighters for the company's leasing unit."
DAE says the Airbus transaction is a MOU, while the Boeing transaction is an order. This tells me Boeing can go ahead and start the parts ordering process for the BAE order (but I don't see how the B-737 or B-777s can be delivered before 2012, or the B-787s before 2013). I can understand a MOU for the A-350XWBs, but the A-320s could have been an order.
So, why just a MOU for Airbus?
"Nov. 12 (Bloomberg) -- Boeing Co., the world's second-biggest manufacturer of commercial airliners"
Bloomberg always put in this comment, or in the case of Airbus, "the worlds biggest manufactuer of commerical airliners"
Bloomberg is a news agency, just like CNN, UPI, or AP. So does that mean we don't believe them?
Quote: Boeing (BA.N: Quote, Profile , Research) agreed a letter of intent with DAE to sell it as many as 100 planes, including 70 of its single-aisle 737 models, in a deal worth upto $13.7 billion, DAE said in a statement at the Dubai Air Show on Monday.
Nevertheless, these orders are very significant for both manufacturers.
Time flies like an arrow. Fruit flies like a banana!
PanAm_DC10 From Australia, joined Aug 2000, 4233 posts, RR: 88
Reply 4, posted (7 years 5 months 1 week 3 days 2 hours ago) and read 7776 times:
AIRLINERS.NET CREW COMMUNITY MANAGER
Given the magnitude of these LoI / MoU / Commitments, or however they're worded, a new and player has stated it's intent to be involved in the Leasing business moving forward and on a substantial scale. Given the amount of frames this does warrant it's own thread and the following are links to the appropriate Official Threads
Over time this should give other companies plenty to think about but with long delivery schedules they have plenty of time. In addition they have already signed preliminary maintenance pact with GE and and order for their 77Ws and 748-Fs Powerplants.
Somewhere along the line, there must be at least an association, if not common ownership. I wonder where those 77Ws are likely to end up? It wouldn't surprise me if they worked their way into the EK fleet, along with one or two other of the types ordered.
Alangirvan From New Zealand, joined Nov 2000, 2106 posts, RR: 1
Reply 9, posted (7 years 5 months 1 week 3 days ago) and read 6772 times:
I wonder how many of these DAE planes will end up with Indian carriers? There seem to be a lot of carriers in the Gulf region ordering aircraft in their own right at this show, though the Indian carriers have been quite this show. It is a bit hard to see DAE planes being placed with US carriers - perhaps some European IT carriers will like the A350s to replace their A332s
Sean-SAN- From United States of America, joined Aug 2002, 784 posts, RR: 1
Reply 13, posted (7 years 5 months 1 week 2 days 17 hours ago) and read 4792 times:
These guys have to spend their $100/barrel oil money some how. These planes won't just end up in the Middle East, it's much more likely they'll be in Asia or possibly the US. I actually know someone who works there and he spends most of his time around Asia with clients.
Caljn From United States of America, joined Oct 2007, 226 posts, RR: 0
Reply 15, posted (7 years 5 months 1 week 2 days 9 hours ago) and read 3110 times:
Quoting Douwd20 (Reply 8): All great news for Boeing and Airbus. But dubious news for the planet.
Bravo Douwd20 !! I thought I was alone in my conflicting thoughts of loving flight juxtaposed with concerns about the future of our planet's finite resources. Not to mention the waste left in the wake of all these planes flying around.