Revenue up 124%; Pre-Tax Profit up 333%
Dubai, U.A.E., 14 November 2018 – Dubai Aerospace Enterprise (DAE) Ltd. reported financial results for the nine months ended 30 September 2018.
- Total Revenue: US$1,069.2 million (AED 3,926.2 million) for the nine months ended 30 September 2018, an increase of 124% from US$477.5 million (AED 1,753.3 million) for the nine months ended 30 September 2017.
- Pre-Tax Profit: US$333.5 million (AED 1,224.7 million) for the nine months ended 30 September 2018, an increase of 333% from US$77.1 million (AED 283.0 million) for the nine months ended 30 September 2017.
Results for the nine months ended 30 September 2018 included the results of the AWAS acquisition which was completed in August 2017.
DAE Chief Executive Officer Firoz Tarapore said: “Our financial results reflect the strength of our franchise and our market position. This leading market position and our stellar financial results contributed to DAE being awarded an investment grade rating of BBB+ by KBRA and an upgrade from both S&P Global and Moody’s in recent months.”
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About DAE
Dubai Aerospace Enterprise (DAE) Ltd. is a globally recognized aerospace corporation and one of the largest aircraft leasing companies in the world. Headquartered in Dubai, DAE’s leasing and engineering divisions serve over 125 airline customers around the world from its seven locations in Dubai, Dublin, Amman, Singapore and the US.
DAE’s award-winning leasing division DAE Capital has an owned, managed and committed fleet of approximately 365 Airbus, ATR and Boeing aircraft with a fleet value of US$14 billion. More information can be found on the company’s web site at www.dubaiaerospace.com.
For further information, please contact:
| Media | Fixed Income Investors |
| Arne Bevaart | Sinan Kahya |
| +971 4 428 9591 | +971 4 428 9593 |
| press.office@dubaiaerospace.com | investorrelations@dubaiaerospace.com |