Dubai's DAE arm to lease 8 Boeings to Garuda Indonesia
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 02 March 2009AIR BORNE: DAE Capital is investing $27bn in aircraft, including 100 Airbus A320s, A350 XWBs & 100 Boeing 737.
DAE Capital, the aircraft leasing and financial arm of state-owned Dubai Aerospace Enterprises, said on Monday it agreed to dry-lease eight Boeing 737-800s to Garuda Indonesia airline.
The short-haul aircraft are due to be delivered by Boeing from June 2009, DAE said in a statement.
A dry lease is one without insurance, crew or maintenance.
Garuda is one of six government-owned firms which are considering an initial public offering either this year or next year, Indonesia's state enterprises minister said in February.
DAE Capital is investing $27bn in aircraft, including 100 Airbus A320s, A350 XWBs and 100 Boeing 737 aircraft and wide-body planes. (Reuters)
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