Dubai Aerospace Enterprise (DAE) has reported a robust start to 2025, announcing a net profit of $85.8 million for the first quarter, up 26.5% from $67.8 million in the same period last year.
According to a company statement released today, profit before tax rose by 45% to $101.2 million, compared to US$69.7 million in Q1 2024. DAE’s total revenue reached US$395.9 million, a 15.2% increase driven by higher maintenance income and gains from aircraft sales.
Chief Executive Officer Firoz Tarapore described the quarter as “outstanding,” citing a pre-tax profit margin exceeding 25% and a return on equity of 13%, fueled by a favorable operating climate and the scalability of DAE’s business model.
Highlighting its aggressive growth strategy, Tarapore confirmed that DAE has entered into a definitive agreement to acquire Nordic Aviation Capital (NAC) for $2.0 billion, which will add nearly 200 owned aircraft and 25 new aircraft on order from Airbus and ATR to its fleet.
In addition, DAE has committed another $1.0 billion to acquire 17 next-generation, fuel-efficient aircraft on lease to 11 airline customers across 10 countries. The company also expanded its managed asset business, securing a new client for its full suite of aircraft lifecycle management services.
DAE’s engineering arm, Joramco, continued its upward trajectory, with revenue up 31% and profitability surging 71% in Q1 2025.
The results position DAE as a key player in the global aviation leasing and maintenance sector, with Tarapore emphasizing continued focus on operational efficiency and strategic expansion.
