DAE cancels more narrowbodies according to Boeing latest figures

The figures show that DAE has cancelled an order for 32 B737 narrowbodies, valued at around $2.3bn at list price.

The leasing arm of DAE still has 35 of the narrowbodies on order.

Arabian Aerospace reported late last year that DAE was mulling over cancellations for both Airbus and Boeing aircraft after already having removed 47 jets from their orderbook.

DAE was set up in 2006 with great fanfare and an alleged $15bn war chest to create a major leasing company which could support much of the growth from the region’s airlines. It also was to launch a training company, a manufacturing division and investing in major international companies/

The economic crisis that hit Dubai at the same time capital was needed for infrastructure such as the Dubai World Centre and Al Maktoum International Airport led to a faltering in the company’s activities.

Sources close DAE have also reported that the company could soon divest itself of some of those investments including MRO specialist Standard Aero.