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Fri 15 Jul 2011 09:37 AM

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Dubai's DAE cancels $2.8bn Boeing 737 order

US plane maker says leasing firm Dubai Aerospace Enterprise drops order for 35 single-aisle 737s

Dubai's DAE cancels $2.8bn Boeing 737 order
Dubai's DAE cancels $2.8bn Boeing 737 order
Boeing

Boeing has lost an order for 35 single-aisle 737s from Dubai Aerospace Enterprise, the leasing company that cancelled its remaining order from Airbus last week.

The Boeing jet order was valued at about $2.8 billion at list prices.

Dubai Aerospace still has 15 747-8 jumbo jets and six 777s on order from Boeing, said Marc Birtel, a spokesman for the planemaker in Seattle.

The state-owned Gulf company was set up in 2006 with the goal of becoming one of the world’s biggest aircraft lessors.

It ordered 200 airliners from Airbus and Boeing, the world’s biggest planemakers, at the 2007 Dubai air show, only to scale back the plans when its finances weakened during the global recession.

Airbus said last week that Dubai Aerospace had dropped orders for 34 single-aisle A320s and 11 A350 widebodies, leaving it with no more purchase contracts after previous cancellations in the past year.

The lessor has also cut its planned purchase of 15 Boeing 787 Dreamliners and the other 32 737s it had ordered.

Dubai Aerospace didn’t respond to requests for comment on Thursday after business hours in the emirate. Robert Genise, chief executive officer at Dubai Aerospace’s DAE Capital leasing unit, left the company last month.

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