DAE reports profit in 2010
Dubai Aerospace Enterprise (DAE) reported underlying net profit for 2010 was USD38.8 million. Net income for the full-year after the impact of exceptional was USD10.3 million. The MRO and leasing company reported revenue of USD1.6 billion, up only marginally from 2009.
DAE Capital, the company leasing arm, has a fleet of four B777s, 16 B737NGs and 15 A320 family aircraft and 11 A330s. The company has orders for 102 aircraft, despite canceling orders for another 62 aircraft in 1Q2011.
Selected Lessors daily share price movements (% change): 24-May-2011