DUBAI will invest $15 billion in an aviation services corporation that is eyeing the booming markets of Asia and the Middle East.
Dubai Aerospace Enterprise (DAE) includes an aircraft leasing and financing business as well as an airport development and operations unit.
The new conglomerate says it plans aircraft purchase and leaseback deals that could boost already explosive growth among regional airlines. According to tradearabia.com, Mohammed Al Zarouni, managing director of newly formed Dubai Aerospace Enterprise (DAE), says the $15 billion his company will invest in the next five years could include buying planes from Middle East Gulf airlines such as Emirates and then leasing them back in deals that would give such carriers even greater muscle to expand.
He pointed to the 50 Airbus A380 doubledeckers recently ordered by Middle East Gulf airlines as the sort of asset DAE could target in its leaseback plans. This fleet of planes alone is worth over $15 billion at list prices, indicating the kind of liquidity airlines could find at their disposal through such deals.
TTN is the most established trade publication in the Middle East distributed on a controlled circulation basis to members of the travel and tourism industry.
Published monthly by Al Hilal Publishing and Marketing Group, the region’s foremost trade publisher, TTN is aimed at professionals in the industry, from travel agents to airline and hotel personnel.
TTN provides in-depth and extensive coverage of relevant issues in the Middle East and North Africa as well as in other parts of the world. Travel related news, analysis, and new appointments together with information on up-coming exhibitions, marketing and promotional campaigns are presented in an innovative and striking colour tabloid.
Every issue also contains a collation of international and regional news and topical features of interest to readers.