Dubai Aerospace Enterprise (DAE) reported a net profit of US$85.8 million for the first quarter of 2025, representing a 26.5% increase from the US$67.8 million recorded during the same period in 2024. The company also noted a significant rise in profitability before tax, which reached US$101.2 million up 45% from US$69.7 million in the previous year’s first quarter. Total revenue for the quarter reached US$395.9 million, a 15.2% year-on-year increase compared to US$343.6 million in Q1 2024. This performance was attributed to higher maintenance income and gains from the disposal of aircraft assets.
Firoz Tarapore, Chief Executive Officer of DAE, described the quarter as “outstanding” from both financial and operational perspectives. He highlighted a pre-tax profit margin exceeding 25% and a return on equity that rose to 13%, attributing the gains to a favourable operating environment and the scalability of the company’s business model. In a key strategic development, DAE confirmed it has entered into a definitive agreement to acquire Nordic Aviation Capital DAC (NAC) for an enterprise value of US$2.0 billion. The transaction, once completed, will add approximately 200 owned aircraft to DAE’s fleet, in addition to around 25 aircraft currently on order from Airbus and ATR.
The company also disclosed that it has signed agreements to acquire 17 next-generation, fuel-efficient aircraft, already leased to 11 airline customers across 10 countries. This acquisition, valued at US$1.0 billion, is expected to further diversify DAE’s portfolio and strengthen its global leasing operations. DAE expanded its service offerings during the quarter by onboarding a new managed asset client, enabling the company to deliver comprehensive aircraft life cycle management services. DAE Engineering, a division of the company, also posted strong results for the quarter. Joramco, its maintenance, repair, and overhaul unit, recorded a 31% increase in revenue and a 71% rise in profitability, underlining robust demand for its services. – By MENA Newswire News Desk.