Dubai Aerospace Enterprise (DAE) reported a net profit of US$85.8 million for the first quarter of 2025, marking a 26.5% increase compared to US$ 67.8 million during the same period in 2024.

According to the company's press release issued today, profit before tax rose by 45% to reach US$101.2 million, up from US$69.7 million in Q1 2024.

Total revenue for the quarter amounted to US$395.9 million, representing a 15.2% growth over US$343.6 million in Q1 2024, driven largely by increased maintenance income and gains from aircraft disposals.

Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated, “The first quarter of 2025 was an outstanding quarter from a financial and operational perspective. Our pre-tax profit margin exceeded 25% and our return on equity climbed to 13% as a result of a favourable operating environment and the scalability of our business model.

"During the quarter, we entered into a definitive agreement to acquire Nordic Aviation Capital DAC (NAC) for an enterprise value of US$2.0 billion. When completed, the acquisition of NAC will add approximately 200 owned aircraft to our fleet, and approximately 25 aircraft on order from Airbus and ATR. We also signed definitive agreements to acquire 17 fuel efficient, next generation aircraft on lease to 11 airline customers in 10 countries for an additional investment of US$1.0 billion. We acquired an additional managed asset client to provide our full suite of aircraft life cycle management services.

"DAE Engineering continued its exceptional performance with strong financial results in the first quarter of 2025. Joramco revenue increased by 31% and profitability increased by 71%.”