DAE reports full year 2013 results
Dubai Aerospace Enterprise (DAE) Ltd. reported Revenue for full year 2013 increased to US$ 2,105 million (Dhs7,735 million) from $ 1,943 million (Dhs7,140 million) for full year 2012.
Net Income for full year 2013 increased to $111.6 million (Dhs410 million) from $7.8 million (Dhs29.0 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 $900 million during the last two years and currently stands at $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.