Dubai Aerospace Enterprise Reports Modest Profit Increase Amid Delivery Delays

Dubai Aerospace Enterprise, one of the largest lessors of aircraft in the world, announced a minor increase in its net profit for the first half of 2024.

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The fully-owned subsidiary of the Investment Corporation of Dubai announced that its net profit had risen by 5.5 percent year on year to 148.8 million dollars.

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Revenue for the first half of 2024 was $679.2 million, up slightly from $670.1 million in the comparable period the year before.

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The chief executive officer of DAE, Firoz Tarapore, pointed to Boeing’s continuing delivery issues. “DAE’s order book positions are placed until the second quarter of 2026,

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The amount in an unsecured to total debt ratio as of June 30, 2024, was 77.6 percent against 73.3 percent at the end of 2023.

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This represents part of the broader changes within the industry and strategic decisions relating to its aircraft portfolio that DAE has undertaken.

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