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