PARIS, July 7 DAE Capital has cancelled its
remaining backlog of aircraft orders with Airbus EAD.PA in the
latest sign of disruption at the majority state-owned Dubai
leasing company, Airbus data showed on Thursday.
The leasing firm, whose chief executive stepped down on June
30, has cancelled orders for 45 aircraft worth $5.8 billion at
current list prices, according to a monthly Airbus order tally.
The same company had cancelled Airbus orders worth $4.7
billion as well as a slew of Boeing orders in March.
The move will place attention on the fate of its remaining
orders with Boeing, which is due to update its data later on
Thursday. DAE has outstanding orders for 56 Boeing aircraft,
according to Boeing data available up to the end of May.
DAE Capital is 23-percent owned by state-linked DIFC
Investments. Other shareholders include Dubai's sovereign wealth
arm, Investment Corporation of Dubai.
The company ordered more than 200 aircraft during an
industry boom in 2007 but its ambitions came under the spotlight
during the global financial crisis.
It was reported last year to have ceded some of its orders
to Dubai-based airline Emirates.
(Reporting by Tim Hepher and Amran Abocar; Editing by James