Firoz Tarapor, the CEO of Dubai Aerospace Enterprise (DAE), stated that the company has strengthened its position among the leading global firms in aircraft leasing and financing, with its fleet comprising around 678 owned, managed, and contracted aircraft, valued at nearly 92 billion dirhams (approximately 25 billion USD) as of December 31, 2025.
In an interview, Tarapor noted that DAE’s portfolio of owned and managed assets saw a remarkable annual growth of 35% in 2025, reaching record highs due to sustained global demand for commercial aircraft. He emphasized the company’s ongoing efforts to explore various channels for seizing opportunities that yield sustainable and attractive returns.
Moreover, he explained that the company employs a diverse and multi-faceted strategy for expansion, having acquired over 300 aircraft through mergers and acquisitions in the past three years. This is in addition to its activities involving direct orders from manufacturers, sale and leaseback transactions, and trading aircraft in the secondary market.
Regarding market share, Tarapor clarified that DAE Capital leases aircraft to more than 150 airlines across over 70 countries, which grants it a broad global presence. He pointed out that nearly 50% of commercially-owned aircraft worldwide are owned by leasing companies and that DAE ranks among the top five aircraft leasing firms globally, benefiting from a distinct asset management approach, leading liquidity levels, and a high capacity for executing deals efficiently and swiftly.
He remarked that 2025 was a pivotal year for the company in terms of operational growth, strategic expansion, and financial performance, noting that the results achieved reflect clear vision, disciplined execution, and effective adaptation to transformations within the global aviation sector.
Tarapor highlighted that the previous year was exceptional on all fronts, as DAE announced in early 2025 its acquisition of Nordic Aviation Capital (NAC), which added approximately 225 aircraft to its fleet and solidified its position among the top five aircraft leasing companies in terms of fleet size. He added that the integration of NAC was not merely a numerical expansion but a comprehensive assimilation into DAE’s platform and operational systems, which enhanced operational efficiencies and global asset management capabilities.
Furthermore, he noted that the momentum continued into the latter half of 2025, where DAE took delivery of ten Boeing 737-9 aircraft as part of a notable sale and leaseback deal with United Airlines, showcasing the confidence of major global airlines in DAE’s ability to provide flexible financing solutions. The company also signed agreements for leasing ten 737-8 aircraft with AJet and nearly completed the sale of 75 previously announced aircraft to various parties, part of an active strategy to recycle capital and maximize returns.
Additionally, Tarapor indicated that DAE Engineering recently opened a new state-of-the-art hangar, adding five new heavy maintenance lines and increasing its capacity to 24 simultaneous maintenance lines, representing a nearly 30% enhancement. This upgrade bolsters the company’s ability to provide maintenance, repair, and airframe overhaul services to commercial airlines at the highest international standards.
Financially, the company demonstrated remarkable performance for the twelve months ending December 31, 2025, with a 21% rise in revenue reaching USD 1.725 billion, reflecting a 43% growth in pre-tax profits amounting to USD 761.6 million. The pre-tax profit margin, excluding exceptional items, rose to 26%, while the pre-tax return on equity reached 13.4%, indicators showcasing qualitative improvements in profits and capital efficiency.
Tarapor added that the company maintained strict discipline in managing its balance sheet, particularly concerning capital adequacy, financing structure, and liquidity metrics. Last year, DAE successfully raised long-term debt financing totaling USD 3.9 billion through a variety of public and private transactions.
Regarding the impact of fluctuating global interest rates, Tarapor noted that DAE engages with around 400 lenders and investors across 20 countries, regularly accessing the sukuk and traditional bond markets alongside bank financing. The diversity of its funding base and high levels of reserve liquidity offer the company significant flexibility to combat market volatility while continuously exploring innovative financing tools and potential partnerships to enhance capital efficiency.
In light of increasing competition, especially with the expansion of Chinese and European lessors, he emphasized that the industry is inherently global, with the influx of new capital contributing to the expected growth of fleets in a more efficient manner, positively impacting the industry’s evolution as a whole.
Tarapor affirmed that Dubai’s economic landscape, encompassing transportation, logistics, and hospitality sectors, supports gross domestic product growth, as the emirate continues to solidify its status as a global hub for living, working, and investing, reinforcing DAE’s ambitions for international expansion.
In terms of challenges, he pointed out that supply chain disruptions and delays in delivering new aircraft are currently significant issues, expected to persist well into the latter part of this decade. Nevertheless, he noted that the present economic cycle exhibits a strong desire among airlines to expand amidst insufficient aircraft availability, positioning leasing companies like DAE in a robust negotiating and operational stance.
Tarapor confirmed that the next five years are set to see continued growth within the aircraft leasing industry, mirroring the anticipated expansion of the global fleet. He reassured that DAE will remain committed to its proven business model by deploying capital to support its clients’ ambitions and offering comprehensive fleet management solutions, thereby reinforcing its role as a key player in shaping the future of the worldwide aircraft leasing sector.
DAE plays a critical role in enhancing the integration of the aviation sector in Dubai and supporting its contribution to the emirate’s GDP, thus contributing to the objectives of the Dubai Economic Agenda D33, which aims to double Dubai’s economy over the next decade.