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DAE $3bn into leasing business
- United Arab Emirates: Thursday, December 14 - 2006 at 07:48
Dubai Aerospace Enterprise will invest between $1bn and $3bn to establish an aircraft leasing business, Bloomberg reported. DAE is one of four bidders for Singapore Aircraft Leasing Enterprise, Asia's biggest plane lessor, with each bidder said to be offering around $1bn each, the report said. Middle East-based airlines will need 1,000 more planes through 2025 to meet rising demand for air travel, according to Airbus.
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James McInerney, News EditorThursday, December 14 - 2006 at 07:48 UAE local time (GMT+4)
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This article was updated on Fri May 04 2007.
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