DAE post strong 2013 results

Dino D'Amore
By Dino D'Amore May 1, 2014 13:27

DAE post strong 2013 results

For the full year 2013 Dubai Aerospace Enterprise (DAE) generated revenue of US$ 2.105bn compared to US$ 1.943bn for 2012. Net Income for the year rose to US$111.6 million from just $7.8 million in 2012.

DAE Managing Director Khalifa H. AlDaboos said: “The 2013 financial results reflect continued strong performance from both divisions: DAE Engineering and DAE Capital. The DAE Engineering division was restructured in 2013 to create an organization structure that is more efficient and more responsive to our customers. New leadership at the Engineering division is contributing to continuing improvement in margins and performance metrics. The DAE Capital division continued its growth trajectory in 2013 by adding high quality assets on lease to leading airlines. The net book value of the portfolio grew by approximately US$900 million during the last two years and currently stands at US$3.3 billion. We are adding key resources to the team and positioning DAE Capital for successful growth.”

Dino D'Amore
By Dino D'Amore May 1, 2014 13:27
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