Middle East's largest plane lessor registers small increase in profit for first six months of 2019
Dubai Aerospace Enterprise (DAE), the Middle East’s largest plane lessor, on Tuesday reported a small rise in profit for the first six months of the year to $197.1 million.
The figures compared to the $195.2 million profit registered in the year-earlier period.
The company said total revenue in the first half of 2019 reached $726.9 million, up from $711.4 million, adding that pre-tax profit margin were down to 29 percent from 31 percent in the same period.
On Monday, DAE said it has raised an additional $490 million from three loan agreements to fund its growth plans.
The loans have maturities ranging from three to seven years, however the state-controlled company refrained from identifying the lenders or divulge further details into the use of the funds.