DAE announces full year 2021 financial results

Dubai Aerospace Enterprise (DAE) has reported total revenue of US$1.238bn for the year ended December 31, 2021, a slight decrease over 2020 figures of $1.3bn. DAE’s total net profit was $196.6 million, down over last year’s $250.2million. DAE’s adjusted pre-tax profit margin is 15.9%, with a return on equity of 6.7%. At the end of 2021, DAE’s net debt-to-equity was 2.54x, with available liquidity of $2.9bn. DAE’s unsecured debt percentage was 69.8% at year end. During the year, DAE ordered and placed on long-term lease 14 Boeing 737 MAX 8 aircraft. The company also increased the number of aircraft under