Dubai Aerospace Enterprise profits jump 100% to $653m in 9 months

Dubai Aerospace Enterprise (DAE) reported a 100 per cent year-on-year increase in profit before tax to $653 million for the nine months ended 30th September, 2025, driven by the full integration of Nordic Aviation Capital (NAC), acquired earlier this year.

Total revenue for the period rose 26 per cent to $1.28 billion, while operating cash flow reached $1.13 billion, compared to $904 million during the same period in 2024. Adjusted pre-tax profit margin stood at 26.7 per cent, up from 23.1 per cent, and adjusted pre-tax return on equity rose to 13.6 per cent.

DAE’s total assets grew to $16.36 billion as of 30th September, 2025, up from $13.03 billion at the end of 2024, while net loans and borrowings increased to $9.91 billion. Liquidity stood at $3.44 billion with a liquidity coverage ratio of 227 per cent.

During the period, the company acquired 263 aircraft and sold 59, bringing its total owned, managed and committed fleet to 726 aircraft. It also signed 162 lease agreements and secured a $2.75 billion facility from 21 regional and Asian banks.

DAE Engineering reported a 16.5 per cent rise in revenue to $155.5 million and a 56.3 per cent increase in profitability to $46.1 million. Its maintenance arm, Joramco, opened a new hangar with five additional heavy maintenance lines capable of handling both wide- and narrow-body aircraft.

Chief Executive Officer Firoz Tarapore said the strong results reflect the successful integration of NAC and continued performance across all operating units, noting that DAE’s capital, funding and liquidity metrics remain within internal and stakeholder targets.

He added that DAE’s diversified portfolio and strong balance sheet continue to position the company for sustainable growth, reinforcing its role as a global leader in aircraft leasing and engineering services.

Meanwhile in May, 2025, Dubai Aerospace Enterprise (DAE) announced that it had recently signed agreements with two counterparties to sell approximately 75 aircraft. Terms of the transactions were not disclosed.

The agreements include the sale of a portfolio of around 50 Embraer E-JETS to a specialist lessor, and a portfolio of approximately 25 out-of-production aircraft to be sold to a financial investor with lease, asset and technical management services provided by DAE.

Upon completion, the transactions announced on Wednesday will reduce the weighted average age and increase the weighted average remaining lease term of DAE’s passenger fleet.

Certain transactions are subject to the receipt of regulatory approvals and other customary closing conditions.

Firoz Tarapore, Chief Executive Officer of DAE, commented, “Consistent with ongoing commitments to our stakeholders, these transactions will achieve multiple objectives by aligning our portfolio composition with our stated target aircraft types, and enhancing the overall fuel efficiency, age profile and remaining lease term characteristics of the portfolio.”

In March Dubai Aerospace Enterprise (DAE) announced that it had recently signed agreements with multiple counterparties to acquire 17 aircraft for an aggregate consideration of approximately $1.0 billion.

This portfolio comprises 100 per cent next-generation aircraft, of which 89 per cent are narrow-body aircraft. Eighty per cent of the aircraft are manufactured by Airbus, and 20 per cent are manufactured by Boeing. These 17 aircraft are on lease to 11 airlines in 10 countries.

Upon completion, these aircraft are expected to reduce DAE’s weighted average passenger fleet age to 6.9 years and increase DAE’s weighted average passenger fleet lease term remaining to 6.6 years. Additionally, on completion, DAE’s pro-forma fleet composition is expected to be 46 per cent Airbus aircraft, 49 per cent Boeing aircraft, and 5 per cent ATR 72-600.

Firoz Tarapore, Chief Executive Officer of DAE, commented, “Amid ongoing orderbook delivery delays, we are continuing to source attractive assets in the secondary market to meet our growth and portfolio management targets.”

In February, 2025, Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the year ended 31st December 2024, posting a 36.2% growth in profits to $477.5 million in 2024 from $350.6 million in 2023.

According to financial results, revenues grew by 9 per cent in 2024 to $1.42 billion from $1.31 billion in 2023. Total assets reached more than $13 billion by the end of 2024 compared to $12.26 billion in 2023.

Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated, “We advanced the franchise forward yet again in 2024 by acquiring 83 owned and managed aircraft, growing revenue by 9% and increasing pre-tax profitability by 45%. This translates into a stellar pre-tax profit margin and return on equity.

Our balance sheet today is stronger than ever before and our metrics for capital adequacy, liquidity, and funding are well within our committed bands, which was reflected in ratings actions taken by both Moody’s and Fitch during the year.

Reuters