Dubai Aerospace Enterprise said it bought Austria's Flugwerkzeuge Aviation Software, a company that develops flight-planning software for airlines, for $25 million.

"Airlines are suffering from record high fuel prices and are looking for better technologies that will ease the burden," Kamilia Sofia, acting chief executive officer of DAE unit DAE Services, said in a statement on Tuesday.

"With its sophisticated flight planning software, f:wz offers optimisation solutions that deliver immediate and substantial savings," Sofia said. - Reuters