DAE Capital Purchases CFM56-7B Engines to Power 70 Next-Generation 737s

Released on Monday, November 12, 2007

DUBAI, U.A.E. � November 12, 2007 � Dubai Aerospace Enterprise (DAE) today became CFM International's newest customer with an announcement that it will purchase 70 CFM56-7B-powered Boeing Next-Generation 737 aircraft for its DAE Capital aircraft leasing and finance business. The firm engine order is valued at approximately $945 million (USD) at list price and deliveries are scheduled between 2010 and 2015.

CFM International (CFM), a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company, is the world's leading supplier of commercial aircraft engines with more than 17,600 delivered to nearly 500 operators around the globe.

DAE, which was established here in Dubai in February 2006, is a growing global aerospace, manufacturing and services corporation. The company has formed six core divisions spanning research and development, manufacturing, engineering, operations, maintenance, repair and overhaul, aircraft leasing and aerospace services.

"We're excited to be a part of this dynamic new venture," said Eric Bachelet, president and CEO of CFM International. "We believe that the unequalled reliability of the CFM56-7B engine coupled with the operating economics of the Next-Generation 737 aircraft will make it an attractive proposition for all DAE's potential customers. An added benefit is that each of these airplanes will be backed by CFM's world-class product support organization."

All of DAE's new CFM56-7B engines will be in the Tech Insertion configuration, which incorporates advanced technologies developed and validated as part of Project TECH56. Improved analytic design tools developed as part of this program have enable CFM to further optimize the Tech Insertion combustor so that it will provide 25 percent lower NOx emissions. In addition, the engine's 1 percent improvement in fuel consumption will also lower CO2, reducing these emissions by 200 tons per aircraft per year.