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.