Sincere apologies, BillyG, I just got my "Aviation Letter" in the post and I-VLED is indeed going to Air Madrid for 5 years; I had heard elsewhere that they were getting 340s . (It doesn't mention 'VLEC, but they're hardly going to get just one!)
Incidentally, Aviation Letter also says that 'VLEE left DUB for AUH on the 6/12/03 for maintenance.