Dubai Aerospace places $270m order for engines

16 November 2009

The company will take delivery of engines in 2011

Dubai Aerospace Enterprise has placed a $270 million order for CFM56-5B engines to power 20 new Airbus A320s.

The company ordered 70 aircraft in July 2008.

DAE is scheduled to take delivery of the engines in early 2011.

All DAE’s CFM56-5B engines have the Tech Insertion configuration introduced in 2007. This technology gives operators a one per cent improvement in fuel consumption during the lifetime of the engine.

To date, a fleet of over 800 of these engines are in service worldwide.

In June 2009, DAE secured a $450 million loan from Citibank to finance nine Boeing 777 aircraft on order.

DAE Capital, the group’s aircraft leasing arm delivered the second of the nine Boeing 777s to Emirates Skycargo, the freight division of Emirates Airline. An additional six aircraft will be delivered between 2009 and 2014. (MEED 21:06:09).

DAE Capital has placed orders for a fleet of about 200 aircraft worth up to $27 billion.

Deliveries of the planes are due to begin in 2010.

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