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DAE registers a net profit of $351 million in 2023

Dubai Aerospace Enterprise (DAE) Ltd today reported its 2023 financial results, with total revenue increasing 16 per cent to $1.3 billion and a profit of $351 million.

The number of aircraft acquired by DAE reached 20 (10 owned and 10 managed), while the number of aircraft sold stood at 30 (22 owned and 8 managed), with the company signing 150 lease contracts, extensions and modifications. signed (114 owned and 36 managed). DAE reserved around 1.5 million man-hours and carried out 316 checks in 2023.

When commenting on the results, Firoz Tarapore, CEO of DAE, fixed,

“Our full year 2023 financial results demonstrate the continued strength of our expanding franchise as we acquired 20 aircraft and an order book of 64 aircraft with near-term delivery positions.

“Our Engineering division reported record results with significant increases in production and revenue. We continue to invest in the facility, having begun construction of additional hangar capacity during the year and announcing a partnership with Boeing to become the first facility in Medio “Orient on being authorized to complete conversions of the Boeing 737-800BCF.”

News source: Emirates News Agency

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