Dubai Aerospace Enterprise (DAE), a leading provider of maintenance, repair and overhaul (MRO) services, posted net income of $38.8 million (Dh 142.6 million) for the year 2010, compared to $4.8 million (Dh 17.6 million) for 2009.

Revenue for the year increased to $1.612 billion (Dh5.922 billion) from $1.583 billion (Dh 5.816 billion) for 2009.

Net income including items for full year 2010 was $10.3 million.

“I am pleased with the way in which DAE responded to market conditions during the downturn to emerge in 2010 as a profitable company,” said DAE chairman Sheikh Ahmed bin Saeed al-Maktoum. 

“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,” added DAE managing director Khalifa H. Al Daboos.

DAE specialises in MRO services, aircraft completions and aircraft leasing.-TradeArabia News Service