Dubai Aerospace Enterprise reports $70m profit in Q1-24

Dubai Aerospace Enterprise reports $70m profit in Q1-24

UAE – Mubasher: Dubai Aerospace Enterprise (DAE) posted $69.70 million in profit before taxes during the first quarter (Q1) of 2024, down from $73.50 million in Q1-23. The company’s total revenues rose to $343.60 million in Q1-24 from $315.20 million in the comparative period of 2023, according to a press release. Firoz Tarapore, CEO of DAE, said: “Our order book positions until 2026 are committed on long-term leases to top-rated airline customers. Cash flow from operations increased by 14% and our available liquidity climbed to $5 billion.” “We continue to explore opportunities to grow the fleet count in our Leasing division, and available hangar capacity in our engineering division,” Tarapore added.

Dubai Aerospace Enterprise reports $70m profit in Q1-24