DAE Capital, the aircraft leasing and financing division of Dubai Aerospace Enterprise (DAE), has signed a firm contract for the purchase of 30 Airbus A350-900 and 70 Airbus A320 aircraft. The contract follows a Memorandum of Understanding (MoU) signed at the Dubai airshow in November 2007.

DAE Capital aims to become a leading lessor based in the Middle East. DAE Capital's parent company DAE is a fast developing global aerospace company with activities including airport development and operations, engineering, manufacturing and services.

"DAE Capital has built a business from ground-up and has made impressive progress since its launch. With our industry-experienced management team and well-defined road map DAE Capital will become one of the top leasing companies globally," said Bob Genise, CEO of DAE Capital.

The A320 Family includes the A318, A319, A320 and A321. Each aircraft features fly by wire controls and all share a unique cockpit and operational commonality across the range. The A320 Family also offers a containerized cargo system, which is compatible with the world wide standard wide-body system. Around 6,200 Airbus A320 Family aircraft have been sold and more than 3,500 delivered to some 280 customers and operators worldwide.

The A350 XWB (Xtra Wide-Body) Family is Airbus' response to Boeing's 787 Dreamliner. With a range of up to 8,300 nm / 15,400 km, it is available in three basic passenger versions: the A350-800 accommodating 270 passengers, the A350-900 seating 314, and the A350-1000 for 350 passengers in a typical three-class layout. The A350s are powered by two new generation Rolls Royce Trent XWB engines delivering each up to 92,000 lbs of thrust.