FINANCIAL NEWS

Dubai’s DAE posts USD121.7m net income in 2011

25 Apr 2012

(MENAFN) Dubai Aerospace Enterprise’s (DAE) Managing Director, Khalifa H Al Daboos, announced that net income in 2011 grew to USD121.7 million, compared with USD10.3 million recorded a year earlier, reported Gulf News.

Al Daboos added that net income excluding non-recurring items reached USD81.3 million, with a surge of 110 percent from 2010’s USD38.8 million.

Moreover, DAE has begun to oversee its smaller leasing portfolio to draw better investment returns and reshape its business, after collecting the swathe of Airbus and Boeing orders.

It is worth noting that the aerospace firm’s strong equity base permits it to be a long-term competitor in its chosen markets, according to Al Daboos.

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