DAE reports half year 2018 financial results

Dubai Aerospace Enterprise (DAE) has reported record financial results for the first half of 2018. Total revenue rose US$711.4 million, up from US$228.7 million for the same period in 2017; the increase reflected a substantial growth in the company’s fleet following the merger with AWAS to 375 owned, managed and committed aircraft and an increase in total assets to US$15.5 billion. DAE’s profit before tax was US$224.0 million compared to US$42.5 million for the same period in 2017. The company’s pre-tax profit margin is 31.5%. During the period, DAE successfully completed the integration of the AWAS platform while remaining active