earnings "Dubai Aviation Industries" 36% to 477.5 million dollars in 2024

Dubai, February 5 / WAM / Dubai Aviation Industries profits rose 36.2% to reach 477.5 million dollars “during the year 2024 compared to about 350.6 million dollars during 2023.
The rate of increase in the company’s profits before the tax was 45% to reach 532.3 million dollars, compared to 366.3 million dollars.
The revenues increased 9% during the year 2024 to exceed 1.42 billion dollars compared to about 1.31 billion dollars during 2023, while the net operating profit before exceptional items amounted Million US dollars in the corresponding period of 2023.
The total assets exceeded 13 billion US dollars at the end of 2024 compared to about 12.26 billion US dollars at the end of 2023., which is mainly linked to aircraft acquisition and cash resulting from operations during the year.
Dubai Aviation Industries, announced the acquisition of 83 aircraft, including 30 owned and 53 orbit, and the sale of 68 aircraft, 19 of which are owned and 49 of which were managed during 2024.
During the past year, the company signed 233 rental, extension and amendment agreement for 190 owned and 43 oriental planes, and long -term rental agreements signed 17 Boeing 737 Max aircraft for Turkish Airlines, Estar Gate, and Hyanan Airlines.
According to the press statement issued by the company, the company also signed final agreements to purchase 36 aircraft from multiple parties, for a total amount of $ 1.6 billion.
Commenting on the results, Fayrouz Tarabur, CEO of Dubai Aviation Industries, said: Our public budget today is stronger than ever before, and our standards for the adequacy of capital, liquidity and financing are still within the specified ranges, which was reflected in the classification measures taken by both Moodyz and Fitch. During the year.
He added: We are still witnessing a strong demand for planes from our clients from airlines. At the end of 2024, all our planes were either leased within long -term rental agreements or in the last stages of negotiations with a number Long -term for our clients from airlines until mid -2026.
He pointed out that the company’s engineering department achieved record results, as its annual revenues increased by 33% to 186.4 million dollars, while its profits increased by 94% to 43.2 million US dollars.

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