Something doesn't quite add up...

[nolimitholdem]

Dubai Jet Order Is at Risk
Financial Woes Appear to Put $29 Billion in Purchases in Doubt

DUBAI—The future of a $29 billion jetliner order that state-controlled Dubai Aerospace Enterprise placed with Airbus and Boeing Co. is uncertain amid the aircraft-leasing company's growing financial concerns, people familiar with the matter said.

The entire article here:

WSJ Article on DAE (http://online.wsj.com/article/SB10001424052748703279704575334850598306286.html)

What? Are they suggesting that Emirates has ordered too many airplanes and a lot of the numbers getting tossed around vis a vis recruiting may be a little fishy?!

Say it isn't so! Why, the UAE is the progressive wave of the future, everyone knows that! I read it in the Gulf News!

:yuk:

[nolimitholdem]

Errrm no...I'm aware of the fact they are "separate" entities, but if the a/c can't be paid for by DAE, it's Emirates who won't be receiving them...

So is Emirates capable of convincing the markets it can shoulder 29billion of contracts?

No misquoting, I labeled the link "WSJ article on DAE"....

[Wizofoz]

nlh,

Are you sure the aircraft were destined for EK?

DAE is an international leasing company, not just a supplier to EK.

In fact, do you know is EK lease any aircraft at all from DAE (not saying they don't, just that I wasn't aware of it)

Maybe this is where the extra aircraft supposedly being announced at Farnbourough are coming from?

ETA just looked up their profile. Most of their orders are for A320/737 family aircraft. They have twelve 777ER and 6 777Fs on order, but no A350s or A380s. The 777s might have been destined for us, but it wouldn't be hard to refinance that small number of aircraft, I wouldn't think.

[Marooned]

Financing of EKs aircraft must be in doubt. The Emirate is more or less bankrupt and relies on loans from its neighbor. EK is tied to the financial brick of the wider DXB economy and will sink or swim with it.

Add to the mix that the benefactor, having already bailed out DXB inc, now sees a multi billion $ orders for new aircraft while it poaches pilots from its 'national airline' on its own doorstep. In a land of 'respect' this is a slap in the face and I do not think that big brother will take all of this lying down.

[ekwhistleblower]

Yep you are right , my next door neighbour can't pay their mortgage so the bank won't lend me any money.........

The aircraft that DAE had ordered were not destined for EK. EK may elect to take over the 777-300s and 350s if the price is right.

[thatwasclose]

DAE have an order for 18 777s, a mix of the ers and fs I believe. The rumours at ek are an order for 18 more 777s at the show. It all ties in rather nicely really.