emirates7 - Dubai Aerospace Enterprise (DAE) reported a net profit of US$85.8 million for Q1 2025, reflecting a 26.5% increase from US$67.8 million in the same quarter of 2024.
According to the company’s press release, profit before tax surged by 45%, reaching US$101.2 million, compared to US$69.7 million in Q1 2024.
The total revenue for the quarter stood at US$395.9 million, a 15.2% increase from US$343.6 million in Q1 2024. This growth was primarily driven by higher maintenance income and gains from aircraft disposals.
Firoz Tarapore, CEO of DAE, commented on the strong results, stating, “The first quarter of 2025 was exceptional both financially and operationally. Our pre-tax profit margin exceeded 25%, and our return on equity rose to 13%, driven by a favorable operating environment and the scalability of our business model.”
During the quarter, DAE finalized an agreement to acquire Nordic Aviation Capital DAC (NAC) for an enterprise value of US$2.0 billion. This acquisition will expand DAE’s fleet by approximately 200 owned aircraft and 25 aircraft on order from Airbus and ATR. Additionally, DAE signed agreements to acquire 17 next-generation fuel-efficient aircraft on lease to 11 airline customers across 10 countries for an investment of US$1.0 billion. They also secured a new managed asset client for their full range of aircraft life-cycle management services.
DAE Engineering also performed strongly, with Joramco's revenue growing by 31% and profitability increasing by 71%.
According to the company’s press release, profit before tax surged by 45%, reaching US$101.2 million, compared to US$69.7 million in Q1 2024.
The total revenue for the quarter stood at US$395.9 million, a 15.2% increase from US$343.6 million in Q1 2024. This growth was primarily driven by higher maintenance income and gains from aircraft disposals.
Firoz Tarapore, CEO of DAE, commented on the strong results, stating, “The first quarter of 2025 was exceptional both financially and operationally. Our pre-tax profit margin exceeded 25%, and our return on equity rose to 13%, driven by a favorable operating environment and the scalability of our business model.”
During the quarter, DAE finalized an agreement to acquire Nordic Aviation Capital DAC (NAC) for an enterprise value of US$2.0 billion. This acquisition will expand DAE’s fleet by approximately 200 owned aircraft and 25 aircraft on order from Airbus and ATR. Additionally, DAE signed agreements to acquire 17 next-generation fuel-efficient aircraft on lease to 11 airline customers across 10 countries for an investment of US$1.0 billion. They also secured a new managed asset client for their full range of aircraft life-cycle management services.
DAE Engineering also performed strongly, with Joramco's revenue growing by 31% and profitability increasing by 71%.