Dubai Aerospace plans Indian aerospace investments

Dubai, Nov 11: State-owned Dubai Aerospace Enterprise (DAE) said on Sunday it plans to invest several billion dollars in India's aerospace industry to tap growing demand for air travel.

''India's aviation sector has great promise and is accelerating with significant growth in domestic and international traffic,'' DAE Chief Executive Bob Johnson was quoted as saying in a statement.

DAE would invest in aircraft leasing, maintenance, airports and pilot training, the company said. DAE will also seek to build an aerospace research and development centre in India.

In September, DAE dropped a $1.8 billion bid for New Zealand's Auckland airport . The company was studying airport investment projects in the Middle East and Australasia, Johnson said last month.

DAE could either buy into existing airports or build new ones, he had said.

Reuters>