Dubai Aerospace Enterprise (DAE) and GE yesterday signed a Memorandum of Understanding for “global cooperation” in a range of areas across the industry. Areas being explored include:
Aircraft finance and leasing – the two firms will explore opportunities for cooperation in financing and leasing of commercial and freighter aircraft. The agreement also covers engine and spare parts leasing/financing.
MRO – GE will help DAE develop world-class MRO capabilities.
Aviation services – the two sides are looking at the possibility of GE providing material management and supply agreements.
Security/airport synergies – the two sides will evaluate potential opportunities for GE to provide support to DAE on the management and operations of airports and their security systems.
“We are looking at a wide range of global cooperation and first we will be defining what we are going to do and then we will have actions,” says Bob Johnson, group chief executive of DAE, at the show yesterday. “The joint expertise and wide experience of our organisations are a good fit and will help drive DAE’s vision for establishing a major aviation and aerospace business hub within the Middle East, with operations around the globe.”
DAE yesterday also announced plans for a multi-billion dollar investment programme in India. High Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman of DAE, said: “Historically the UAE and India have had a strong working relationship. This is even stronger today as is evident by the substantial investments being made by UAE companies in India across a variety of sectors and likewise Indian companies investing in the UAE.
“DAE is keen to build upon this and adopt a leadership role in India’s booming civil aviation sector.” Bob Johnson said that at this stage DAE was in discussions with a number of academic institutions and companies. DAE is looking at India to engage all six of its businesses, covering aircraft leasing, maintenance, component manufacturing, airports development, system integration and pilot training.
Source: Flight Daily News