DAE profit soars with global aviation comeback

Dhaka: Dubai Aerospace Enterprise (DAE) reported a 100pc jump in profit before tax to $653 million for the nine months ended Sept. 30, from $326.6 million a year earlier, as global air travel rebounded and leasing demand strengthened.

Revenue rose 26pc to $1.28 billion from $1.02 billion, supported by higher fleet utilisation and the integration of Nordic Aviation Capital (NAC), acquired earlier this year. 

Operating cash flow climbed to $1.13 billion from $904 million, while adjusted pre-tax margin improved to 26.7pc and return on equity to 13.6pc.

Total assets increased to $16.36 billion from $13.03 billion, reflecting NAC’s addition.

CEO Firoz Tarapore said the results highlight DAE’s stronger position in the global leasing market, adding that capital, funding and liquidity metrics “remained comfortably within targets.”

DAE’s fleet expanded sharply, with 263 aircraft acquired, including 249 for its owned portfolio. It sold 59 aircraft and signed 162 new lease deals, extensions and amendments, bringing the combined owned, managed and committed fleet to 726 aircraft, 99pc of which are contracted.

Engineering subsidiary Joramco delivered 1.3 million man-hours and completed 191 aircraft checks, lifting revenue 16.5pc to $155.5 million and profit 56.3% to $46.1 million. 

A new five-bay hangar raised maintenance capacity to 22 lines for both wide- and narrow-body aircraft.

DAE raised $2.75 billion from 21 regional and Asian banks, taking available liquidity to $3.44 billion at end-September. 

The company expects continued momentum into 2026 as airlines step up fleet modernisation amid rising passenger demand.

-B