DAE reports nine-month financial results

victoria@aviationnews-online.com
By victoria@aviationnews-online.com November 14, 2018 23:06

DAE reports nine-month financial results

Dubai Aerospace Enterprise (DAE) has reported total revenue of US$1,069.2 million (AED 3,926.2 million) for the nine months ended 30 September 2018, an increase of 124% from US$477.5 million (AED 1,753.3 million) for the nine months ended 30 September 2017.  Pre-tax profit rose by 33% to US$333.5 million (AED 1,224.7 million). The results include the results of the AWAS acquisition which was completed in August 2017.

DAE Chief Executive Officer Firoz Tarapore said: “Our financial results reflect the strength of our franchise and our market position. This leading market position and our stellar financial results contributed to DAE being awarded an investment grade rating of BBB+ by KBRA and an upgrade from both S&P Global and Moody’s in recent months.”

victoria@aviationnews-online.com
By victoria@aviationnews-online.com November 14, 2018 23:06