Dubai PR Network, Online Press Release from Dubai and Middle East
 
Aviation, Airline & Aerospace(Travel & Tourism)
Filter PR by
  
DAE Reports Full Year 2016 Financial Results Revenue and Net Income from Continuing Operations at record levels
 

Dubai, U.A.E., 12 April 2017 – Dubai Aerospace Enterprise (DAE) Ltd. reported financial results for full year 2016.

  • Total Revenue: US$417.8 million (AED 1,534 million) for full year 2016, an increase of 22% from US$341.7 million (AED 1,255 million) for full year 2015.
  • Net Income from Continuing Operations: US$124.9 million (AED 459 million) for full year 2016, an increase of 323% from US$29.5 million (AED 108 million) for full year 2015.
  • Total Net Income: US$199.0 million (AED 731 million) for full year 2016, a decrease of 67% from US$610.4 million (AED 2,241 million) for full year 2015. (2015 results included a gain on the sale of StandardAero.)

Results for 2015 included amounts reclassified from continuing operations to discontinued operations for the impact of the FALCON 2017-1 ABS transaction.

DAE Managing Director Khalifa H. AlDaboos said: “DAE continued its journey to becoming an established industry player with many significant achievements in 2016. There is a sizeable opportunity to expand within the aerospace sector in the UAE and the Middle East. DAE’s growth ambitions will focus on expanding its presence broadly in the sector and in the region.”

DAE Chief Executive Officer Firoz Tarapore said: “Our accomplishments in 2016 underscore our single-minded focus on building DAE as a trusted provider of aircraft leasing and engineering solutions to our clients on a global basis.

Highlights include:

  • Continued growth of the owned, committed and managed aircraft portfolio – 112 aircraft with a net book value of US$5.1 billion (AED 18.7 billion) at year-end 2016
  • New aircraft commitments in excess of US$1.0 billion (AED 3.7 billion) during calendar year 2016
  • Redeployment of capital in the engineering side of our business – acquisition of 80% of Joramco in September 2016
  • Further strengthening of the balance sheet – shareholders’ equity grew to US$1.7 billion (AED 6.2 billion)
  • Broadening access to global capital markets – inaugural asset-backed issuance of debt and equity notes in the US capital markets
  • Strengthening of leadership and management teams with the addition of widely recognized industry veterans” 

Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized and award winning aerospace company headquartered in Dubai. 

Posted by : Dubai PR Network Editorial Team
Viewed 5636 times
PR Category : Travel & Tourism
Posted on : Wednesday, April 12, 2017  1:11:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Sheikh Ahmed: Security and safety are a top priority for avi...
Next Story : Aviation Safety Should not be Influenced by Commercial Agend...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Paris Gallery's Eid Gift Guide: The Fragrance Edit [23143-Views]
Montblanc: The perfect gift guide [20892-Views]
SALLY HANSEN Nail Trend Report FREE FORM & NEGATIVE SPACE [18514-Views]
Jewel Corner Launches A Brand New Kiosk In The UAE [17873-Views]
Ulysse Nardin - Classic Dual Time Enamel [17641-Views]
Louis Moinet - Stardance brings down the stars for Eid Al Fitr [17409-Views]
The Admiral sets sail on an ocean of colours [17208-Views]
RAYMOND WEIL Shine Etoile makes a stunning Eid gift [17007-Views]
CITIZEN L… Ideal for the Stylish Woman this Eid [16903-Views]
Citizen Presents Three Stunning New Models for Father's Day [15860-Views]
Joyalukkas presents ¼ Kilo Gold to the Winner of the ongoing ‘Joyalukkas Shop & Win Upto 6... [15762-Views]
Celebrate Father's Day in 'Swiss Style' with RAYMOND WEIL [14518-Views]
Happy Father's Day with Ulysse Nardin Executive Skeleton Tourbillon [14189-Views]
SAINT HONORE Opéra is Ideal for the Stylish Woman [11492-Views]
Joyalukkas Win Upto 60 KG gold promotion Lucky winner announced in the UAE [11132-Views]
Paris Gallery Eid Gift Guide: The Watch Edit [10870-Views]
SAINT HONORE Charisma Twist [10626-Views]
Cook Smart with LG this season [9193-Views]
First SUC Regional Workshop on Open Source in Technologies for Libraries [9120-Views]
LG G6: The Ideal Summer Vacation Companion [8894-Views]
Make a Statement with MAKE UP FOR EVER's New Artist Liquid Matte Lipsticks [7918-Views]
Skyline University College Conducted Health and Wellness Program [7534-Views]
TAG Heuer Luxury Kit [6972-Views]
All-New 2017 Lincoln Continental Rides to Success in the UAE [6936-Views]
IKEA Reveals Hidden Shortcuts as Father's Day Gift [6167-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories