Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

UAE’s state-owned Dubai Aerospace Enterprise (DAE) has purchased 15 Boeing 737 Max aircraft, valued at around $1.8bn. 


According to media reports, DAE hinted it had ended its tussle with the manufacturer after previously choosing to forfeit a deal with Boeing in 2019 due to pricing issues. DAE, which owns 162 Boeing jets said that this was a big move towards strengthening relations between the two parties. 


Firoz Tarapore, chief executive officer at DAE, said that the move was a sign of the company’s confidence in the recovery of domestic and international air travel in the Middle East. 


The aerospace market shows steady signs of recovery with Boeing’s Q1 deliveries growing to 77 units from 50 units a year ago. The company has also seen large orders in North America from Southwest Airlines and 777 Partners.

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