Dubai Aerospace Enterprise (DAE) reported a strong start to 2025, with a 26.5% rise in first-quarter net profit, reaching US$85.8 million compared to US$67.8 million in the same period last year.
The aircraft leasing and maintenance giant also saw its profit before tax climb 45% to US$101.2 million, supported by a 15.2% boost in revenue, which totaled US$395.9 million. The growth was largely driven by higher maintenance income and gains from aircraft sales.
DAE CEO Firoz Tarapore described the quarter as “outstanding,” citing a pre-tax profit margin above 25% and a return on equity of 13%, enabled by a favorable market and the firm’s scalable model.
In a major strategic move, DAE signed a definitive agreement to acquire Nordic Aviation Capital DAC (NAC) for US$2 billion. The acquisition will add around 200 aircraft to its owned fleet and 25 more on order from Airbus and ATR.
DAE also finalized deals to acquire 17 next-generation aircraft leased to 11 airlines across 10 countries, representing an additional US$1 billion investment. The company expanded its managed asset base by onboarding a new client for its full suite of aircraft life cycle services.
Meanwhile, DAE’s engineering arm, Joramco, reported a 31% surge in revenue and a 71% jump in profitability, underscoring the group’s strong performance across all business segments.
News Source: Emirates News Agency
