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DAE cancels order for Boeing freighter planes
- United Arab Emirates: Sunday, December 09 - 2012 at 10:37
Dubai Aerospace Enterprise (DAE) has cancelled part of an order for ten 747-8 freighters from US plane manufacturer Boeing. Reuters has reported, citing the plane maker. DAE was formed in 2006 in a collaboration between sovereign wealth arm Investment Corporation of Dubai, Emaar Properties and DIFC Investments. The company ordered more than 200 aircraft in 2007 but its ambitions were disrupted by the global financial crisis. DAE cancelled Airbus orders worth $4.7bn, as well as a slew of Boeing orders, in March 2011 and entered negotiations with both planemakers about the rest of its orders.
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StaffSunday, December 09 - 2012 at 10:37 UAE local time (GMT+4)
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