DAE posts nine-month loss after writing off Russian aircraft leases – The National

DAE posts nine-month loss after writing off Russian aircraft leases – The National

Jet lessor Dubai Aerospace Enterprise recorded a nine-month loss after a $576.5 million write-off before tax related to “loss of control” over planes it previously leased to airlines based in Russia.

DAE incurred a loss of $335m in the first nine months of 2022, compared with a profit attributable to equity holders of $90.9m in the same period last year, it said in a statement on Thursday.

But before net exceptional items, the Dubai-based plane lessor said it earned a profit attributable to equity holders of $202.6m during the nine-month period ending September 30.