Dubai Aerospace Enterprise (DAE) Ltd has announced a strong 228% jump in its profit before tax in the first half of 2025 to $506.8 million, supported by additional revenue from the acquisition of Nordic Aviation Capital, along with cost savings from debt refinancing and the elimination of duplicate expenses.
During the same period, the company recorded revenue growth of 24% to $843.6 million, while operating cash flow rose to $659 million, compared with $612.4 million in the same period of 2024. The adjusted pre-tax profit margin rose to 25.7%, and the pre-tax return on equity stood at 13.3%, according to a press release published on the Dubai Aerospace Enterprise website.
Strong Financial Position
Financial statements as of June 30, 2025 showed that the company maintained a strong balance sheet, with total assets of $16 billion, compared with $13 billion at the end of 2024, while net borrowings rose to $9.8 billion.
Available liquidity stood at $3.65 billion, while net debt to equity held steady at 2.42 times. The liquidity coverage ratio reached 248%, and the share of unsecured debt stood at 84.6%.
Fleet Expansion and Leasing Deals
The first half of this year saw the completion of the acquisition of Nordic Aviation Capital, which helped raise DAE's fleet to about 750 owned, managed and on-order aircraft. Key transactions included:
The acquisition of 236 aircraft, including 6 managed aircraft.
The sale of 35 aircraft, including 7 managed aircraft.
The signing of 107 lease, extension and amendment agreements.
An increase in the owned portfolio's utilization rate to 99.2%.
90 aircraft on order from Boeing, Airbus and ATR.
Engineering Division Performance
The engineering division, Joramco, continued its strong performance, with revenue rising 26% to $119 million and profit jumping 39.1% to $80 million in the first half of 2025. The division also carried out 143 checks and logged more than 924,000 man-hours.
For his part, Firoz Tarapore, CEO of Dubai Aerospace Enterprise, said the company successfully completed the acquisition of NAC in May 2025, significantly increasing the size of its fleet.
He added: "We are currently integrating all operational functions and support systems, and we expect to complete this by the end of the current quarter. The strong growth in revenue and profit reflects the robustness of our operating model and the efficiency of our financing plans."
To view the post on the Dubai Aerospace Enterprise website, click here.
