(MENAFN) Dubai Aerospace Enterprise (DAE) said it plans to buy new turboprop planes worth USD1 billion on the back of growing traffic in Asia, according to Arab News
The largest aircraft leasing company in the Middle East had ordered 20 turboprop commercial aircraft from French-Italian manufacturer ATR, and may order another 20 aircrafts worth USD988 million
DAE Managing Director Khalifa Al-Daboos said: "We aim to diversify our portfolio and expand into regional aircraft, to meet an increasing demand from airlines that are developing regional air connectivity.
The company canceled outstanding Airbus orders earlier in 2011 worth USD5.8 billion, as well as orders for 35 Boeing 737s after Dubai's debt crisis
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