DAE selects CFM engines for its A320s
Dubai Aerospace Enterprise (DAE) has selected CFM International CFM56-5B engines to power 20 Airbus A320 family aircraft it has on order, in a deal worth around $270 million. The aircraft are due for delivery starting in 2011.
The 20 aircraft are part of an order for 70 A320s that DAE (Chalet 5) placed in July 2008; CFM engines also were selected for the initial 20 of that order. The engine selection for the final 30 is pending. “Now we just have to help them place [the aircraft] so the remaining 30 aircraft become CFMs also,” said GE Aviation president and CEO David Joyce. (CFMI is at Stand W350).
DAE also has 70 Boeing 737NGs on order, all of which will be powered by the CFM56-7Bs, the only engine choice for that aircraft.
Robert Genise, CEO of DAE Aviation Capital, which will be seeking to place the aircraft on lease with airlines around the world, said the company already has 37 aircraft on lease. Three more are to follow this year and six are scheduled so far for 2010. He added that the company has had no problem placing aircraft. “There is no delinquency in our portfolio. We are very pleased about that,” he remarked.
Genise reflected that DAE’s leasing portfolio was “jump-started two years ago using aircraft from GE Capital, and then we did sale and leasebacks with Emirates, our largest customer.”
Joyce said many aircraft in the region are already GE powered. “The 777s and A380s flying in the [Middle East] region are ours. We are very comfortable with our market penetration here,” he said.