Dubai Aerospace Enterprise (DAE) recorded a net profit of US$85.8 million in the first quarter of 2025, reflecting a 26.5% rise compared to the US$67.8 million reported in the same period of 2024.
As outlined in the company’s press release issued today, profit before tax increased by 45%, reaching US$101.2 million, up from US$69.7 million during the first quarter of 2024.
Total revenue for the quarter reached US$395.9 million, marking a 15.2% improvement over the US$343.6 million posted in Q1 2024, largely driven by greater maintenance earnings and proceeds from aircraft disposals.
Firoz Tarapore, Chief Executive Officer of DAE, remarked, “The opening quarter of 2025 delivered exceptional financial and operational outcomes. Our pre-tax profit margin exceeded 25%, and our return on equity increased to 13%, thanks to a supportive operating environment and the scalability of our business model.”
He continued, “In the quarter, we signed a binding agreement to acquire Nordic Aviation Capital DAC (NAC) for an enterprise value of US$2.0 billion. Once completed, this acquisition will bring approximately 200 owned aircraft into our fleet, along with nearly 25 aircraft on order from Airbus and ATR. We also finalised agreements to purchase 17 next-generation, fuel-efficient aircraft currently leased to 11 airlines across 10 countries, representing a further investment of US$1.0 billion. Furthermore, we added a new managed asset client, enabling us to deliver our comprehensive aircraft life cycle management services.”
