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Dubai seeks to raise global aviation profile
20.02.06 1.00pm
Dubai launched its maiden voyage into the global aerospace industry today by investing US$15 billion in an aviation services corporation that is eyeing the booming markets of Asia and the Middle East.
Dubai Aerospace Enterprise (DAE) is the latest megaproject from this tiny Gulf emirate with global ambitions. It includes an aircraft leasing and financing business as well as an airport development and operations unit.
"This is an important industrial initiative for Dubai and a window for Dubai into the global aviation industry," said DAE's Chairman Sheikh Ahmed bin Saeed al-Maktoum, who is also the head of Dubai's Emirates airline, at the launch.
Strong demand by Asian and Middle Eastern carriers, along with an increase in air travel, has made 2005 the best year for the world's biggest aircraft manufacturers Boeing and Airbus .
Most of the Middle Eastern orders have come from carriers in the Gulf Arab region, fuelled by a desire to boost tourism and state budgets swollen by record oil prices.
Managing Director Mohammed Al Zarouni told reporters that in addition to the rapidly expanding airports of neighbouring states, DAE has set its sights on India and China which are planning more than 145 airports over the next 10 years.
He declined to give details but said DAE's airport business will focus on greenfield development as well as expanding existing airport infrastructure and management.
"We're looking at turn-key solutions," he said. "There is tremendous growth in aviation activities in our region and globally. We don't want to miss the opportunity."
DAE's aircraft leasing unit will have a fleet consisting primarily of wide-bodied planes from Airbus and Boeing.
"We are currently in talks with 10 airlines and expect to make our first order this year," said DAE Project Director Rashid Al Malik without giving further details.
Aircraft maintenance, repair and overhaul business as well as an aircraft component manufacturing and final completion unit are among DAE's longterm plans, the officials said.
The holding firm will set up an aerospace university, which will include a research and development department, and is aiming for 8000 graduates by 2015. DAE also plans to offer space services, aircraft brokerage and IT systems.
Dubai is one of seven emirates that make up global oil producer the United Arab Emirates (UAE).
The city, at the crossroads of East and West, is already the Gulf region's trade and tourism hub but is seeking global renown and a diversified income through investments and acquisitions, such as the US$6.8 billion takeover of ports operator P&O.
DAE's founders are the government of Dubai, its investment arm Dubai International Capital, leading local property developer Emaar, private investment firm Istithmar, mortgage lender Amlak, the Dubai Airport Free Zone Authority and the Dubai International Financial Centre, a financial free zone.
Please appraise the following names:
dubaiaerospaceuniversity.com
dubaiaviationuniversity.com
dubaiaviationschool.com
Many Thanks
Dubai seeks to raise global aviation profile
20.02.06 1.00pm
Dubai launched its maiden voyage into the global aerospace industry today by investing US$15 billion in an aviation services corporation that is eyeing the booming markets of Asia and the Middle East.
Dubai Aerospace Enterprise (DAE) is the latest megaproject from this tiny Gulf emirate with global ambitions. It includes an aircraft leasing and financing business as well as an airport development and operations unit.
"This is an important industrial initiative for Dubai and a window for Dubai into the global aviation industry," said DAE's Chairman Sheikh Ahmed bin Saeed al-Maktoum, who is also the head of Dubai's Emirates airline, at the launch.
Strong demand by Asian and Middle Eastern carriers, along with an increase in air travel, has made 2005 the best year for the world's biggest aircraft manufacturers Boeing and Airbus .
Most of the Middle Eastern orders have come from carriers in the Gulf Arab region, fuelled by a desire to boost tourism and state budgets swollen by record oil prices.
Managing Director Mohammed Al Zarouni told reporters that in addition to the rapidly expanding airports of neighbouring states, DAE has set its sights on India and China which are planning more than 145 airports over the next 10 years.
He declined to give details but said DAE's airport business will focus on greenfield development as well as expanding existing airport infrastructure and management.
"We're looking at turn-key solutions," he said. "There is tremendous growth in aviation activities in our region and globally. We don't want to miss the opportunity."
DAE's aircraft leasing unit will have a fleet consisting primarily of wide-bodied planes from Airbus and Boeing.
"We are currently in talks with 10 airlines and expect to make our first order this year," said DAE Project Director Rashid Al Malik without giving further details.
Aircraft maintenance, repair and overhaul business as well as an aircraft component manufacturing and final completion unit are among DAE's longterm plans, the officials said.
The holding firm will set up an aerospace university, which will include a research and development department, and is aiming for 8000 graduates by 2015. DAE also plans to offer space services, aircraft brokerage and IT systems.
Dubai is one of seven emirates that make up global oil producer the United Arab Emirates (UAE).
The city, at the crossroads of East and West, is already the Gulf region's trade and tourism hub but is seeking global renown and a diversified income through investments and acquisitions, such as the US$6.8 billion takeover of ports operator P&O.
DAE's founders are the government of Dubai, its investment arm Dubai International Capital, leading local property developer Emaar, private investment firm Istithmar, mortgage lender Amlak, the Dubai Airport Free Zone Authority and the Dubai International Financial Centre, a financial free zone.
Please appraise the following names:
dubaiaerospaceuniversity.com
dubaiaviationuniversity.com
dubaiaviationschool.com
Many Thanks
