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DAE's nine-month net revenue soars to $1.07bn
Dubai Aerospace Enterprise (DAE) has reported a net revenue of $1.07 billion for the nine months ended September 30, 2019 compared to $1.06 billion last year besides registering a net income of $260.5 million for the period.
Dubai Aerospace Enterprise (DAE), one of the largest aircraft leasing companies in the world, has reported a net revenue of $1.07 billion for the first nine months of 2019 compared to $1.06 billion last year.
Announcing the financial results for the nine months ended September 30, 2019, DAE said its net income too rose to $260.5 million for the period.
The profit for the nine-month period stood at $260.5 million compared to the last year's figures of $290.5 million.
The operating profit for the nine months ended 30 September, 2019 was $566.5 million compared to $582 million last year.
During the nine months ended September 30, 2019 there was an increase in depreciation and amortisation expense and lower lease revenue.
The Dubai group's adjusted ebitda stood at $999.2 million for the nine months ended 30 September, 2019 which was inline with previous year.
A globally recognised aerospace corporation and 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.-TradeArabia News Service