Dubai Aerospace Enterprise to invest in India
15 Nov 2007
Dubai: The tenth Dubai Air Show opened yesterday with Dubai Aerospace Enterprise (DAE) making several important announcements. The DAE announced a "global cooperation understanding" with GE, which covers aircraft financing and leasing along with the leasing and financing of engines and parts.
The agreement also calls for GE to help DAE develop its MRO capabilities, provide material management and supply agreements and evaluate opportunities for GE to help with airport and security management and operations.
Separately, DAE also announced an MOU with Dubai Airports to form a "strategic partnership" under which DAE "will look to yield best results for Dubai Airports and will develop a blueprint and master case for future national and international projects."
According to DAE officials, the relationship with GE will offer the "necessary credentials and resources" to DAE to pursue airport development projects in the Middle East, China, North Africa and India. The latter, particularly, will be a focus for the DAE, which announced a long-term, multibillion-dollar investment programme on the subcontinent on 10 November.
The company will make investments in India covering aircraft leasing, MRO, component manufacturing, airports, system integration and pilot training, as well as construction of an aerospace research and development centre.
