SEATTLE, Jan. 02, 2008 -- Boeing [NYSE: BA] and Dubai Aerospace Enterprise (DAE) on Monday concluded all contractual obligations for the purchase of 100 airplanes valued at $10.9 billion at average list prices. DAE, a global aerospace, manufacturing and services corporation, and Boeing had previously signed a letter of intent at the Dubai Air Show in early November. The airplane order will be added to Boeing's Orders & Deliveries Web site at the next scheduled weekly update on Jan. 3.
"This order marks a significant milestone in our relationship and strategic partnership with DAE," said Marty Bentrott, Boeing's newly appointed vice president of Sales for the Middle East and Africa. "We look forward to working closely with DAE as it takes delivery of a wide variety of advanced Boeing airplanes well into the next decade, and we're confident the performance of our airplanes will drive continued demand in the leasing market."
DAE Capital is one of six divisions in the DAE organization and offers clients a synergized cluster of aerospace services.
"Our vision is to execute a strategy that will make DAE Capital a global leader in the aircraft leasing market," said Bob Genise, CEO of DAE Capital. "In concluding this order with Boeing, we've taken a major step towards reaching our objectives in a short span of time."