BUSINESS

Dubai's DAE Orders $27.2 Bil Worth Of Planes From Airbus, Boeing

03/28/2008 02:45 am ET | Updated May 25, 2011

Dubai Aerospace Enterprise, a state-owned group created in 2006, Monday announced orders for as many as 100 planes each from Airbus and Boeing Co. for $13.7 billion and $13.5 billion, respectively.

The Boeing order comprises 70 Boeing 787s and 30 widebody aircraft, the DAE said. The widebody fleet will be split between 787s, 777s and 747s. The price incorporates a deal with General Electric for engines, valued at more than $1.9 billion.

Also Monday, Saudi Arabian Airlines said it signed a memorandum of understanding for 22 Airbus A320 aircraft as part of fleet modernization plans, said Airbus, which is owned by European Aeronautic Defense & Space Company, in a statement. The agreement allows the Saudi airline company to increase the order by eight more A320s.

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