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Article #297: Dubai Aerospace Enterprise

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Dubai, prospering from near-record oil Aerospace Enterprise as a holding company
prices, plans to invest $20 billion to with six operating subsidiaries.
create a company that will lease planes, Dubai Aerospace Enterprise will be
develop airports and make aircraft parts chaired by Sheikh Ahmed bin Saeed al
to tap into growing demand for air travel Maktoum, chairman of the Emirates airline
in the Middle East and Asia. The family group and president of the Dubai
ruled emirate, which owns the largest department of civil aviation.
Arab airline, may buy as many as 50 Dubai's ambitious foray into the
wide-body aircraft from Boeing and Airbus aerospace industry will build on the
in the next four years, said Rashid presence the emirate has already
Al-Malik, project director for the established in the aviation sector
planned company, which will be called through the development of Dubai
Dubai Aerospace. "It's not surprising international airport and the rapid
Dubai is moving into these activities expansion of Emirates into one of the
because the whole focus of the aerospace world's leading long-haul airlines.
industry has shifted eastward in recent The business concept here is to create a
years," said Doug McVitie, managing new hub for aviation, from the leasing
director of Arran Aerospace, a and maintenance of planes to training
forecasting company in France. personnel at a new university to
Mr. Al-Malik said Middle Eastern operating other airports and even
governments including Dubai, Abu Dhabi manufacturing aircraft. It clearly makes
and Qatar had ordered as many as 300 excellent business sense to lever off
aircraft for delivery in the next five Emirates position as a major buyer of
years and Dubai Aerospace would order its aircraft to promote the Dubai Aerospace
first this year. Enterprise to the aircraft manufacturers
The Dubai Government at the weekend like Boeing and Airbus.
announced the formation of Dubai






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