{"id":82072,"date":"2024-10-31T00:00:00","date_gmt":"2024-10-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/31\/uaes-dubai-aerospace-enterprise-net-earnings-up-54-9-in-9m-2024\/"},"modified":"2024-10-31T00:00:00","modified_gmt":"2024-10-31T00:00:00","slug":"uaes-dubai-aerospace-enterprise-net-earnings-up-54-9-in-9m-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/31\/uaes-dubai-aerospace-enterprise-net-earnings-up-54-9-in-9m-2024\/","title":{"rendered":"UAE\u2019s Dubai Aerospace Enterprise net earnings up 54.9% in 9M 2024"},"content":{"rendered":"

<\/strong>Dubai Aerospace Enterprise (DAE) saw its net incom<\/strong>e increase 54.9% y-o-y to USD <\/strong>310.8 mn in 9M 2024<\/strong>, according to its financials (pdf)<\/a>. The company\u2019s revenues grew 2.8% y-o-y to USD 1 bn during the same period.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

ICYMI- <\/strong>DAE saw its net income grow 12.8%<\/a>y-o-y<\/a>to AED USD 81 mn in 2Q 2024<\/a>, while the company's revenues dropped 2.7% y-o-y to USD 331.1 mn. DAE\u2019s 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. <\/p>\n

More details: <\/strong>DAE\u2019s leading division boasts a fleet of 500 Airbus, ATR, and Boeing aircraft valued at USD 18 bn \u2014 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. <\/p>\n

DAE has been expanding its portfolio: <\/strong>DAE inked an agreement to acquire 10 aircraft for approximately USD 500 mn<\/a> 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<\/a> to acquire 23 aircraft from several entities for USD 1.1 bn. The planes are leased to 13 airlines in nine different countries.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company saw its revenue and net income grow during the period<\/p>\n","protected":false},"author":1,"featured_media":82073,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[145,372,174,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-aviation","tag-dubai-aerospace-enterprise","tag-earnings-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"b738b4ef-0fdc-469c-8a85-981d8eb40ce9","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/74.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Dubai Aerospace Enterprise net earnings up 54.9% in 9M 2024","related_issue":[82058],"teaser":"The company saw its revenue and net income grow during the period","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.9dcca9b7-2337-4a38-a53b-9d73c6addcb4.mp3"},"yoast_head":"\nUAE\u2019s Dubai Aerospace Enterprise net earnings up 54.9% in 9M 2024 - 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