Dubai-based lessor, LCAL, established in 2004 to buy and lease 787s, cut its Dreamliner order from 21 aircraft to five. The 16 cancellations are another blow to the ongoing troubles surrounding the Dreamliner and are valued at US$2.8 billion. This is the second big 787 order cut revealed in the last two weeks after Russia's S7 confirmed last week that it had cancelled its order for 15 Dreamliners. … [Read more...] about Dubai lessor cuts 787 order
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Leasing & Chartering
Middle East : DAE grows wide-body portfolio
Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, has acquired three Airbus aircraft ordered by Kingfisher Airlines in a sale and leaseback deal.DAE Capital, the aircraft leasing and financing business of the Dubai government, announced the completion of the acquisition of three new Pratt and Whitney-powered Airbus A330-200 wide-body aircraft ordered by Kingfisher Airlines from Airbus. DAE Capital currently has 33 aircraft on its books, with a … [Read more...] about Middle East : DAE grows wide-body portfolio
Americas: Udvar-Hazy may buy back ILFC from AIG
International Lease Finance Corp. - aircraft lessor and the largest single customer of both Boeing and Airbus - chairman and CEO Steven Udvar-Hazy is reportedly attempting to line up investors to buy back the company from parent American International Group (AIG), which purchased it in 1990, according to the Wall Street Journal. ILFC, founded by Udvar-Hazy and Leslie and Louis Gonda in 1973, is a bright spot in troubled AIG's portfolio. While the company as a whole nearly collapsed before the … [Read more...] about Americas: Udvar-Hazy may buy back ILFC from AIG
China: Cargo charters for Chinese halal products
China’s Muslim-dominated Ningxia autonomous region, which is beefing up its halal products sector, is planning to start air cargo charters to Kuala Lumpur, Bangkok and Dubai next year. The charters will help Muslim-dominated Ningxia autonomous region export agriculture produce from the Chinese north western region, said Chen Zhigang, the director-general of the Ningxia investment promotion bureau.“The construction of an international cargo logistics centre has just started. The first … [Read more...] about China: Cargo charters for Chinese halal products
Air France places US$7b plane orders
Air France last month announced a US$7 billion aircraft order, split between Airbus and Boeing, Reuters reported. The deals include an order for two more A380 superjumbos, whose two-year production delays have left manufacturer Airbus facing penalties to airlines. Air France said it had also placed orders for 30 A320-family single-aisle aircraft from Airbus and 18 wide-body 777 long-haul aircraft from Boeing, including five 777 freighters. The Boeing 777 order is designed to help phase out … [Read more...] about Air France places US$7b plane orders
DHL Express sees growing domestic trade
Despite the easing of the global demand for electronic components, DHL Express Philippines is expecting an increased trade in the local small and medium enterprises and the retail sector. Larry Llamzon, country manager of DHL Express Philippines, said DHL remains confident about the Philippine economy. The company has recorded good growth in the Philippines over the years. The challenge for us is to maintain our head start this year by continuously outperforming ourselves,” Llamzon … [Read more...] about DHL Express sees growing domestic trade
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