DAE reports half year

Dubai Aerospace Enterprise (DAE) has reported profit before exceptional items in the six months ended June 30, 2022 increased by 186% to US$140.1 million, with cash flows from operating activities up by 36% to US$678.5 million. Exception items include the exceptional write-off before tax of US$576.5 million related to the loss of control of 19 aircraft that are currently in Russia. DAE reports that is liquidity ratio remains “exceptionally strong” at 667%; with available liquidity of US$2.7 billion. In the reporting period, DAE made bond repurchases of US$77 million. DAE acquired 34 aircraft in the period, adding eight aircraft to