DUBAI: Port operator DP World announced Thursday its profits slid 29 percent in 2020 from the previous year to $846 million, as the coronavirus pandemic froze supply chains and upended the world’s trade flows.
The port operator, which delisted from the stock exchange and returned to full state-ownership last June, stressed that it defied analysts’ low expectations for global trade over the difficult period. The maritime firm, one of the world’s largest, has faced various challenges with the virus surging, regional tensions rising and trade wars continuing.
In its annual report, DP World said its revenue in 2020 climbed 11 percent to $8.53 million, a rise it attributed to a year of acquisitions. DP World reported revenues of $7.68 billion and profits of $1.19 billion in 2019. The port operator’s delisting from the stock exchange came as its parent company, Dubai World, sought to repay more than $5 billion to banks.
Despite dismal predictions of slumping global trade last spring, DP World said the container terminal industry has shown resilience, pivoting to automation and digital investment. In recent months, the company has done brisk business. DP World struck a $4.5 billion deal with one of Canada’s biggest pension-fund managers to expand its footprint in Europe and Asia Pacific last fall. It won several lucrative concessions this year to build vast ports and logistics hubs in Indonesia, Senegal and Angola.
The company also plans a joint bid with an Israeli port operator for Israel’s newly privatized Haifa Port, following a breakthrough deal to normalize relations between the countries. In a press conference Thursday, Sultan Ahmed bin Sulayem, DP World’s chairman and CEO, told reporters the company aims to invest in other key Israeli seaports, including in the southern cities of Ashdod and Eilat.
“The Israelis have good infrastructure and economic business policies that encourage investment,” bin Sulayem said, “making European ports accessible to the Middle East and the (Indian) subcontinent.”
DP World now operates in 61 countries along some of the world’s busiest shipping routes, from Brisbane, Australia, in the East to Prince Rupert, Canada, in the West. The company has aggressively extended its reach up the Horn of Africa, positioning the United Arab Emirates as one of the main foreign players crowding into the strategic Red Sea.
Dubai port operator DP World sees 2020 profits drop 29% amid virus
https://arab.news/6z999
Dubai port operator DP World sees 2020 profits drop 29% amid virus
- Pandemic hits global supply chains
- Plan to boost ties with Israeli operator
PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025
RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.
According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.
Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries.
The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.
AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.
AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.
Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”
He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”
Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.
AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance.
Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.
