DAE Cancels $5.8B in Airbus Orders

Dubai Aerospace Enterprise (DAE) has cancelled all of its aircraft orders with Airbus, worth $5.8bn, for 45 planes comprising 34 A320s and 11 A350s.

DAE has ordered more than 200 aircraft in 2007, but after the financial crisis set in, the company cancelled several multibillion-dollar deals.

In March 2011, the company cancelled Airbus orders worth $4.7bn, weeks after cancelling an order for 32 Boeing aircraft worth $2bn.