DUBAI Feb 15 Troubled government-owned
leasing firm Dubai Aerospace Enterprise (DAE), which cancelled
orders from Boeing and Airbus last year, said on
Wednesday that its acting chief executive has resigned.
George Mushahwar left DAE to start an independent business
venture, the company said in a statement.
DAE's managing director Khalifa Al Daboos said the firm's
core management team will now be led by the chief operating
officer. He said the shareholders are comfortable with the
direction and strategy of the company.
DAE cancelled outstanding Airbus orders worth $5.8 billion
in July and also cancelled orders for 35 Boeing 737s.
The chief executive of DAE's capital division, Robert
Genise, had stepped down in June.
The company said it leased nine new Boeing 777 freighters to
(Reporting by Praveen Menon; Editing by Firouz Sedarat)