DAE Capital Cancels 30 Plane Airbus Order

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Published: March 4, 2011

A majority state-owned Dubai aircraft leasing company has cancelled Airbus orders worth USD$ 4.7 billion at current list prices, weeks after cancelling Boeing orders worth USD$ 2 billion.

Dubai Aerospace Enterprise’s leasing unit DAE Capital cancelled orders for 18 A320 single-aisle jets and 12 A350-900 wide-body aircraft, pushing the European plane manufacturer into a negative net order position for 2011.

Libyan airline Afriqiyah Airways also cancelled three A320 aircraft but appeared to have converted these into new orders for the slightly larger A321 plane, according to monthly statistics issued by Airbus on Thursday.

DAE Capital last month cancelled orders for 32 Boeing 737 aircraft.

DAE Capital ordered more than 200 aircraft during an industry boom in 2007 but its ambitions came under the spotlight during the global financial crisis.

It was reported last year to have ceded some of its orders to Dubai-based airline Emirates.

Airbus said it had sold 40 aircraft and received 43 cancellations in January and February, leaving it with three net cancellations. It delivered 73 aircraft over the same period.


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