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 8076 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
Robinsons Honored for Outstanding Store Design [9803-Views]
Safilo Group Reveals Its Spring/ Summer 2018 Collection [7381-Views]
Bridal Glow is Skin Deep: Tips for every bride-to-be in 2018 [7290-Views]
Redefining the Skin Clinic Experience. #allnewkaya opens in Muscat City Centre! [6606-Views]
Optim-Eyes Lashes & Brows with Filorga [6588-Views]
Mealtop, Introducing a Whole New Dessert Experience [6515-Views]
Catch Some Zzz's in the IKEA Nap Truck [6405-Views]
NEZO launches new identity to guide consumers in selecting the best salt for their culinar... [5685-Views]
South African artisans of fine leather products look to make big impression at Leatherworl... [5411-Views]
Dual Investments Brand LE66 to Relocate from City Walk to New Dubai Location in 2018 [5203-Views]
Global Expansion in sight for ICONS© Coffee Couture [5075-Views]
Raymond Weil's Freelancer Ladies [5069-Views]
Tag Heuer Carrera Heuer 02 [4947-Views]
Do You Feel Sleep Deprived? Nearly Half of UAE Would Give Up Social Media for an Extra Hou... [4813-Views]
Al Ghurair Foundation for Education Event on ‘Graduating Work Ready Youth' Unveils Researc... [4691-Views]
15,000 participate in the Dubai Cares' annual Walk for Education 2018 in support of childr... [4355-Views]
DAMAC Properties deliveries surpass 20,000 unit milestone as it reports net profit of AED ... [4252-Views]
Al Qattara Investments reveals expansion plans for Al Ain [4203-Views]
Dealing with Diabetes: What German Medical Center's doctors say about the incurable diseas... [4142-Views]
Indian FMCG Conglomerate Hamdard Laboratories brings “The Drink of India” - RoohAfza to UA... [4075-Views]
Galderma's “Leave Your Mark” Mobile Clinic heightens awareness of skin diseases amongst yo... [4026-Views]
Jaguar Land Rover Awarded as Company of the Year [3965-Views]
Dubai Culture Launches ‘My Environment My Responsibility' Initiative in Hatta [3934-Views]
Name of New High-sided Vehicle to Be Rolls-royce Cullinan [3861-Views]
Pink Caravan Ride Launches Mobile Mammography Clinic to Offer Specialised On-the-spot Scre... [3825-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories