Dubai Aerospace Enterprise (DAE) today (July 31) reported its financial results for the first half of 2024, logging a year-on-year (YoY) revenue increase that hit $679.2 million.

 

Meanwhile, DAE's profit before tax rose 22.7% YoY to $154.3 million in H1 2024, with pre-tax return on equity reaching 11%.

 

On the H1 results, CEO Firoz Tarapore said: "The continued strength of demand for both leased aircraft and airframe maintenance can be seen in both the growth of our top line revenue and profitability and in improvements to our margins and returns."

 

"We continue to demonstrate exemplary financial prudence, including our rock-solid commitments to capital adequacy and our exceptional liquidity of $4.9 billion, which contributed to recent upgrades to our long-term credit ratings from both Moody’s Investors Service and Fitch Ratings," he stated.

 

"The trading market remains a robust channel for buying and selling aircraft. We are actively evaluating acquisitions and divestments of aircraft portfolios. We expect the second half of 2024 to be an active period," he added.-TradeArabia News Service