Dubai Aerospace Enterprise 2013 Financial Results
Dubai, UAE, 29 April 2014 – Dubai Aerospace Enterprise (DAE) Ltd. reported Revenue for full year 2013 increased to US$ 2,105 million (AED 7,735 million) from US$ 1,943 million (AED 7,140 million) for full year 2012.
Net Income for full year 2013 increased to US$111.6 million (AED 410 million) from US$7.8 million (AED 29.0 million) in 2012.
DAE Managing Director Khalifa H. AlDaboos said: “The 2013 financial results reflect continued strong performance from both divisions: DAE Engineering and DAE Capital. The DAE Engineering division was restructured in 2013 to create an organization structure that is more efficient and more responsive to our customers. New leadership at the Engineering division is contributing to continuing improvement in margins and performance metrics. The DAE Capital division continued its growth trajectory in 2013 by adding high quality assets on lease to leading airlines. The net book value of the portfolio grew by approximately US$900 million during the last two years and currently stands at US$3.3 billion. We are adding key resources to the team and positioning DAE Capital for successful growth.”
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aerospace company specializing in maintenance, repair and overhaul (MRO) services, aircraft completions and aircraft leasing. The Company is headquartered in Dubai and operates in four continents and employs approximately 4,000 people. More information can be found on the company’s web site at www.dubaiaerospace.com.
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