Dubai, 26 April 2012 (WAM) - Dubai Aerospace Enterprise (DAE) Ltd. recorded Net Income, excluding non-recurring items, of US$ 81.3 million (AED 298.7 million) for full year 2011, an increase of 110 percent over the Net Income, excluding non-recurring items, of US $38.8 million (AED142.6 million) for full year 2010.
Revenue for full year 2011 increased to US$ 1,802 million (AED 6,621 million) from US$ 1,612 million (AED 5,922 million) for full year 2010. Net Income for full year 2011 was US$121.7 million (AED 447.1 million), up from US$10.3 million (AED37.8 million) in 2010.
DAE Chairman H.H. Sheikh Ahmed bin Saeed al-Maktoum said: "I am pleased with the way in which DAE built on its market position in 2011 and reported record revenues and profits for the year." DAE Managing Director Khalifa H. AlDaboos said: "DAE demonstrated its earnings power in 2011 with each division contributing towards the record results of the Company. Our strong equity base allows us to be a long-term competitor in our chosen markets." Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aerospace company specializing in maintenance, repair and overhaul (MRO) services, aircraft completions and aircraft leasing. The Company is headquartered in Dubai and operates in four continents and employs over 4,000 people.