Dubai Aerospace Enterprise (DAE) Ltd today reported its 2023 financial results, with total revenue increasing 16 percent to US$1.3 billion and profit of US$351 million.
The number of aircraft acquired by DAE reached 20 (10 owned and 10 managed), while the number of aircraft sold settled at 30 (22 owned and 8 managed, with the company signing 150 lease agreements, extensions, and amendments signed (114 owned and 36 managed). DAE booked around 1.5 million man-hours, and performed 316 checks in 2023.
Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated,
“Our Full Year 2023 financial results demonstrate the continued strength of our expanding franchise as we acquired 20 aircraft and a 64 aircraft orderbook with near-term delivery positions.
"Our Engineering division posted record results with sizeable increases in output and revenue. We are continuing to invest in the facility, having broken ground during the year on additional hangar capacity and announcing a partnership with Boeing to become the first facility in the Middle East to be authorised to complete Boeing 737-800BCF conversions.”
News Source: Emirates News Agency
