Dubai Aerospace Enterprise (DAE) opened 2026 on a high note, reporting a net profit of $102.2 million for the first quarter, a 19.11 percent increase year-on-year, as revenue climbed to a record $455.5 million, up 15 percent from the same period last year.
The Dubai-based aircraft leasing giant posted a pre-tax profit of $120.4 million, compared to $101.2 million in Q1 2025, with operating profit reaching $243.1 million. The pre-tax profit margin edged up to 26.4 percent from 25.6 percent, while the pre-tax return on equity held steady at 13 percent.
On the liquidity front, available funds surged to $4.547 billion from $3.4 billion, with the liquidity coverage ratio jumping sharply to 1,089 percent compared to 277 percent at end of 2025 — a sign of significantly strengthened financial resilience.
Operationally, DAE acquired nine aircraft, sold 15, and signed 64 lease agreements, extensions and amendments during the quarter. Its total fleet of owned, managed and committed aircraft reached 663. The company also secured $2.8 billion in new long-term unsecured revolving credit facilities.
The quarter's standout development was DAE's agreement to acquire 100 percent of Macquarie AirFinance Limited for approximately $7 billion — a deal that would add around 350 owned and committed aircraft to its fleet upon completion.
CEO Firoz Tarapore called it "an exceptional quarter for the DAE franchise," adding that the company's five-year financial track record and growing scale contributed to an upgrade of its senior unsecured debt ratings to 'A-' by global rating agency KBRA.
"Revenue rose to a record level, and margins expanded,"
Tarapore said, signalling confidence in the company's growth trajectory heading into the rest of 2026.
News Source: Emirates News Agency
