DAE reports full year 2016 financial results

Dubai Aerospace Enterprise (DAE) has reported financial results for full year 2016. Total revenue amounted to US$417.8m (AED 1,534m) for full year 2016, an increase of 22% from US$341.7m (AED 1,255m) for full year 2015. Net income from Continuing Operations amounted to US$124.9m (AED 459m) for full year 2016, an increase of 323% from US$29.5m (AED 108m) for full year 2015. DAE reported total net income of US$199.0m (AED 731m) for full year 2016, a decrease of 67% from US$610.4m (AED 2,241m) for full year 2015. (2015 results included a gain on the sale of StandardAero.)