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DAE to lease 8 Boeings to Garuda Indonesia

Dubai, March 2, 2009

DAE Capital, the aircraft leasing and financial arm of state-owned Dubai Aerospace Enterprises, said on Monday it agreed to dry-lease eight Boeing 737-800s to Garuda Indonesia airline.

The short-haul aircraft are due to be delivered by Boeing from June 2009, DAE said in a statement. A dry lease is one without insurance, crew or maintenance.

Garuda is one of six government-owned firms which are considering an initial public offering either this year or next year, Indonesia's state enterprises minister said in February.-Reuters




Tags: Garuda | DAE | lease |

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