DUBAI -- Dubai Aerospace Enterprise (DAE), the global aerospace manufacturing and services corporation, and GE have reached a memorandum of understanding (MOU) for a global cooperation understanding. As part of the agreement, GE and DAE will collaborate in several areas related to the commercial aerospace and aviation industries based on their respective competencies and capabilities: 



Aircraft finance/leasing opportunities: DAE and GE will evaluate opportunities for joint cooperation on aircraft financing and leasing of commercial and freighter aircraft. The two companies will also consider opportunities in the engine and spare parts leasing and financing solutions. 



GE Aviation support synergies: GE will assist DAE in achieving competencies in aircraft maintenance, repair and overhaul to enable DAE to develop world-class MRO capabilities. 



GE Aviation services support: DAE and GE will explore opportunities in which GE would provide material management and supply agreements. These agreements would also include component and accessory repair needs and any additional material solutions for DAE facilities. 



Aviation security/airport synergies: DAE and GE will evaluate potential opportunities for GE to provide support to DAE on the management and operation of airports and their security systems. 



Bob Johnson, Group CEO of DAE, said, "This outline agreement with GE will focus on activities where we can fully collaborate on a global stage. The joint expertise and wide experience of our organizations are a good fit and will help drive DAE's vision for establishing a major aviation and aerospace business hub within the Middle East, with operations around the globe." 



"GE is very pleased to become a strong partner with DAE," said Muhammad Al-Lamadani, sales general manager for GE Aviation, speaking on behalf of GE. "We look forward to evaluating opportunities in which we can work together to help DAE achieve its long-term strategic goals." 



Based in Dubai, one of the fastest growing cities in the world, DAE is situated at the heart of one of the world's most dynamic regions, and is ideally positioned to shape the trends that will decide the future of the aerospace industry. DAE is developing an integrated aerospace cluster that will eventually be based at Dubai World Central - the new 140 square kilometre airport and logistics city being constructed at Jebel Ali, Dubai, in the United Arab Emirates. DAE has formed six core divisions spanning research and development, manufacturing, engineering, operations, maintenance, repair and overhaul, education, aircraft leasing and aerospace services. 



GE is a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.