Dubai Aerospace Enterprise (DAE) saw its net income increase 54.9% y-o-y to USD 310.8 mn in 9M 2024, according to its financials (pdf). The company’s revenues grew 2.8% y-o-y to USD 1 bn during the same period.

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ICYMI- DAE saw its net income grow 12.8%y-o-yto AED USD 81 mn in 2Q 2024, while the company's revenues dropped 2.7% y-o-y to USD 331.1 mn. DAE’s income rose 5.5% y-o-y to USD 148.8 mn in 1H 2024. The company saw its revenues edge up 1.9% y-o-y to USD 662.4 mn during the first six months of 2024.

More details: DAE’s leading division boasts a fleet of 500 Airbus, ATR, and Boeing aircraft valued at USD 18 bn — which consists of 313 owned, 111 managed, and 76 committed aircraft. The firm purchased 11 owned aircraft and 36 managed aircraft as well as sold 16 owned aircraft and 31 managed aircraft during the first nine months of the year. The portfolio consists of 91% narrow-body aircraft by value and 86% of the portfolio is next-generation tech aircraft.

DAE has been expanding its portfolio: DAE inked an agreement to acquire 10 aircraft for approximately USD 500 mn earlier this week. DAE also facilitated the purchase and sale of equity interests in 36 managed aircraft from existing investors to new investors. The acquisitions are expected to be finalized by the end of 2024. DAE inked agreements back in August to acquire 23 aircraft from several entities for USD 1.1 bn. The planes are leased to 13 airlines in nine different countries.

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