Dubai pulls out of talks with business jet specialist BBA BBA, with an aviation service portfolio ranging from refueling to baggage handling and specialist de-icing, has been anxious to expand further in the US, which already accounts for 75pc of its profits. The company, which started life as an industrial belting business in Scotland and had Henry Ford among its customers at one stage before its aviation transition, employs 12,000 in the US, Europe and South America. Standard Aero, with 4,000 employees, has the major aero engine and aircraft manufacturers GE of America, Rolls Royce and Bombardier among its customers. DAE falls under the umbrella of the Investment Corporation of Dubai, part of the business empire of the Gulf emirate and that of its ruler Sheikh Mohammed bin Rashid al-Maktoum. The company said in May the full year net income had gained 35pc to $110m. Dubai was forced to rein in its ambitions to acquire foreign business interests in 2009 when the debt crisis hit hard in the city state. The city's deal making has been constrained since. BBA's shares have gained 43pc year-to-date to close at 318.8p on Friday. The stock is up 3.8pc since news of talks with DAE emerged in late August.