DAE reports strong nine month results  

Dubai Aerospace Enterprise (DAE) has reported a 16% increase in revenue to US$989 million for the nine months ended September 30, 2023. Profit before tax was $207.5 million up on $200.6 million a year ago (previous year’s figures are adjusted to exclude leases to Russia airlines that were written off), with a pre-tax profit margin of 21%. Operating cash flow dipped to $928.9 million.   DAE’s total assets reached $12.434bn in the nine month period, with net debt at $7.73bn, down from $8.05bn at end of 2022. The lessor has available liquidity of $3.84bn, with net-debt-to-equity ratio of 2.46x.   During the