Dubai Aerospace Enterprise (DAE) announced its financial results for the first half of 2024, reporting a year-on-year revenue increase of $679.2 million.
The company's profit before tax rose by 22.7% to $154.3 million, achieving a pre-tax return on equity of 11%.
Firoz Tarapore, CEO of DAE, highlighted the strong demand for leased aircraft and airframe maintenance as key drivers of revenue and profitability growth. He emphasized the company's financial prudence, noting a robust liquidity position of $4.9 billion and recent upgrades in long-term credit ratings from Moody’s and Fitch.
DAE is actively exploring acquisitions and divestments of aircraft portfolios and anticipates an active second half of 2024 in the trading market for aircraft.
News Source: Emirates News Agency
