Dubai Aerospace Enterprise (DAE) has disclosed its financial performance for the initial six months of 2024, showing a revenue surge to US$679.2 million compared to the same period last year. Concurrently, DAE's earnings before tax climbed by 22.7 percent to $154.3 million in the first half of 2024, with the pre-tax return on equity hitting 11 percent.
Firoz Tarapore, the CEO of DAE, commented, "The sustained robust demand for leased aircraft and maintenance services is reflected in our expanding revenue and profitability, as well as in the enhancements to our margins and returns. Our commitment to financial discipline remains unwavering, including our steadfast adherence to capital adequacy and our substantial liquidity of US$4.9 billion, which has led to recent upgrades in our long-term credit ratings by Moody's Investors Service and Fitch Ratings."
The trading market continues to be a dynamic platform for aircraft transactions. DAE is currently assessing potential acquisitions and divestments in aircraft portfolios. The company anticipates a busy second half of 2024.
