Aircraft leasing firm DAE reports lower income for last year | The National:
"Dubai Aerospace Enterprise (DAE), an aircraft leasing and maintenance company, said on Tuesday its net income last year was 67 per cent lower than 2015, the year it sold the engineering services provider StandardAero, as it sought to focus on its leasing business. Net profit was US$199 million, down from $610.4m a year earlier, the company said. DAE, whose majority shareholder is the sovereign wealth fund Investment Corporation of Dubai, said revenue rose by 22 per cent last year to $417.8m. It also increased its aircraft fleet last year. Khalifa Al Daboos, DAE’s managing director, said there was a "sizeable opportunity" to expand within the UAE and Middle East’s aerospace sector. "DAE’s growth ambitions will focus on expanding its presence broadly in the sector and in the region," he said."
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