The Dubai Aerospace Enterprise (DAE) has reported an impressive 228% increase in its profits for the first half of 2025, reaching $506.8 million compared to $154.3 million during the same period in 2024.
This substantial growth was fueled by a rise in operational revenues, which totaled $843.6 million during the first half of the year—up by 24.2%, or $164.4 million, from the prior year when revenues were $679.2 million. The strong performance was primarily attributed to increased maintenance revenue and additional income from aircraft leasing, resulting from a recent merger.
The company also saw improvements in profitability indicators, with the adjusted pre-tax profit margin rising to 25.7%, and the return on equity before taxes increasing to 13.3%.
According to the financial report, operating cash flow reached $659 million for the first half of the current year, while total assets rose to approximately $16 billion by the end of June 2025, up from about $13 billion at the end of December 2024. This growth followed DAE’s acquisition of Nordic Aviation Capital (NAC) in May for $2 billion.
This acquisition expanded DAE’s fleet of aircraft to around 750, including owned, managed, and ordered planes, representing a nearly 50% growth.
The number of acquired aircraft totaled 236, while 35 aircraft were sold during this period.
CEO Firoz Tarapor commented on the results, stating that the acquisition of Nordic Aviation Capital was completed on May 7, 2025. This deal has nearly increased their owned, managed, and ordered fleet by 50%, bringing the total to about 750 aircraft. They have fully integrated the front-end operations and are currently working on completing the integration of all supporting and operational systems, which is expected to be finished by the end of this quarter.
Revenue and profit experienced significant growth during this period, driven by additional income from acquired businesses, alongside cost reductions from debt refinancing and the elimination of duplicate expenses. Capital adequacy, financing, and liquidity indicators remain exceptionally strong.
Overall, revenues rose by 24% to $843.6 million; the pre-tax profit margin expanded to 25.7%, and the return on equity reached 13.3%.
The engineering division of DAE also showcased robust performance, with Ghoramco’s revenues increasing by 26% to $119 million and its profits soaring by 80% to $39.1 million during the first half of 2025.