What does the future hold for Dubai Aerospace Enterprise in the wake of this month’s news that its leasing arm, DAE Capital, has cancelled all remaining airliner orders with Airbus?
On July 14, Boeing reported that DAE had scrapped an order for fifteen 737 narrowbodies, leaving it holding orders for 15 of the new 747-8 freighter and half a dozen 777s. Meanwhile, DAE is trying to renegotiate the terms of an $800 million bank loan that falls due for payment on July 23. Just two weeks earlier on June 29, DAE Capital CEO Robert Genise left the company, with minimal explanation and no clear indication as to whether or how he might be replaced.
Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.
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