DAE announces half year results

Dubai Aerospace Enterprise (DAE) has reported total revenue for the six months ended June 30, 2021 of US$613.4 million, compared to US$675.9 million in the year-ago period. DAE posted an adjusted pre-tax profit of US$67.3 million, down from US$131.9 million for H1 2020. DAE’s operating cash flow was US$498.5 million, a slight uplift on H1 2020 with US$432.2 million. DAE’s unsecured debt as a percentage of total debt increased from 62.6% at the year end to 70.8% for the six months ended June 30, 2021. The lessor has available liquidity of US$4.1bn, compared to US$2.7bn at year-end 2020. DAE’s fleet