Dubai Aviation Industries Company reported that it achieved total revenues of $ 1.421 billion (5.22 billion dirhams) for its financial results for 2019, compared to 1.436 billion dollars (5.28 billion dirhams) for 2018, as the company achieved total profits (before taxes) It reached 413.6 million dollars last year, compared to 428.8 million dollars the previous year. The profit margin ratio before tax was 29.1% in 2019 compared to 29.8% in 2018. Available liquidity recorded $ 2.4 billion at the end of last year, compared to $ 1.55 billion at the end of the previous year.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Aviation Industry, said that the growth of ((Dubai Aviation Industries) in the past few years helped to enhance the contribution of the aviation sector to the success witnessed in Dubai, as the company implemented its strategy with great efficiency, which strengthened its position As a leading aircraft rental company with a portfolio of more than 400 aircraft. We are pleased with the progress made by Dubai Aviation Industries in light of the support it receives from the Dubai Investment Corporation. ”
For his part, said the managing director of Dubai Aviation Industries and Executive Vice President of the Dubai Investment Corporation, Khalifa Al-Dabbous: «Dubai Aviation Industries has distinguished itself in the market by adopting a different strategy, and this has translated into high and stable revenues and a leading position in the market. In 2019, the Dubai Investment Corporation increased its ownership percentage to Dubai Aviation Industries to 100%. We are happy with the company's performance so far and look forward to further growth in its business in the future. ”
For his part, CEO of Dubai Aerospace Industries, Fayrouz Tarapur said: “The year 2019 was unique for us, as the standards of profitability, capital adequacy and liquidity remain very strong. In 2019, we received the largest single authorization in the sector to attract and manage aircraft, and we managed to raise our unsecured debt ratio, boosted liquidity and achieved efficiency measures that are the highest in its class.
$ 2.4 billion in liquidity available at the company at the end of last year.