Dubai, U.A.E., 23 May 2011 - Dubai Aerospace Enterprise (DAE) Ltd. recorded Net Income, excluding non-recurring items, of US$38.8 million (AED142.6 million) for full year 2010, an increase of 708 percent over the Net Income, excluding non-recurring items, of US$4.8 (AED17.6 million) for full year 2009. Revenue for full year 2010 increased to US$1,612 million (AED5,922 million) from US$1,583 million (AED 5,816 million) for full year 2009. Net Income for full year 2010 was US$10.3 million.
DAE Chairman HH Sheikh Ahmed bin Saeed al-Maktoum HH said: "I am pleased with the way in which DAE responded to market conditions during the downturn to emerge in 2010 as a profitable company." DAE Managing Director Khalifa H. AlDaboos said: "The investments we have made in our core businesses in the last few years will position the company well to deliver superior performance in the future."
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. More information can be found on the company's web site at www.dubaiaerospace.com