Exclusive: Dubai Aerospace drops plans for big aircraft order, targets M&A deal

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Exclusive: Dubai Aerospace drops plans for big aircraft order, targets M&A deal
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Dubai Aerospace Enterprise favors expanding its fleet via a takeover of a rival ...

FILE PHOTO: The Airbus logo is pictured at Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau

A pricing disagreement had been an issue when Tarapore told Reuters in May 2018 DAE was interested in the order. This has led to DAE pursuing other options to increase its portfolio. This would have given DAE a pipeline of jets ordered directly from manufacturers on par with its rivals, though the world's biggest planemakers are mostly sold out of their workhorse single-aisle jets until 2024.The long wait is not a concern for the Dubai state fund company which wants to double its portfolio to 800 jets within the next six to eight years.

DAE could revisit a direct order in two years time as manufacturers clear their backlog of deliveries, though for now terms were “completely mispriced,” Tarapore said. Tarapore said an ideal takeover target would have around 100 to 200 jets in its fleet and none on order, but there are few of these.

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