DAE reports H1 revenue at $672.6mln

DAE reports H1 revenue at $672.6mln

Highlights of the consolidated financial statements• Pre-Tax Profit Margin: 20% (H1 2019: 29%)• Pre-Tax Return on Equity: 8.9% (H1 2019:12.5%)• Net Debt-to-Equity: 2.51x (Year-end 2019: 2.64x)• Unsecured Debt as a percentage of Total Debt: 62% (Year-end 2019: 62%)• Available Liquidity: $2,818million (Year-end 2019: $2,404 million)• Unencumbered Assets: $6.5 billion (June 2019: $6.1 billion)• Fleet Utilization: 99.2% (June 2019: 99.3%)Firoz Tarapore, Chief Executive Officer of DAE, said: “Our financial results for the first half of 2020were characterized by excellent and abundant liquidity, strengthening balance sheet and lower reported profitability. The reported Net Income in H1 2020 was lower attributable primarily to 23 fewer aircraft in the Owned Aircraft portfolio, fewer asset sales resulting in lower gains on sale of assets, reduced finance income, and higher provisions for trade receivables offset by