Coupled with Strong Revenue Increase of 21%
Dubai, U.A.E., 04 February 2026 – Dubai Aerospace Enterprise (DAE) Ltd (“DAE”) today reported its financial results for the year ended December 31, 2025. The consolidated financial statements can be found here.
Selected Financial Highlights:
| Year Ended
|
||
| US$ millions
|
Dec 31, 2025 |
Dec 31, 2024 |
| Total Revenue | 1,725.2 | 1,429.6 |
| Profit before Tax | 761.6 | 532.3 |
| Operating Cash Flow | 1,291.8 | 1,386.0 |
| Adjusted Pre-Tax Profit Margin (1) | 26.0% | 23.2% |
| Adjusted Pre-Tax Return on Equity (1) | 13.4% | 11.0% |
| As at
|
||
| US$ millions
|
Dec 31, 2025 |
Dec 31, 2024 |
| Total Assets | 16,547.7 | 13,033.3 |
| Net Loans and Borrowings | 10,227.6 | 7,999.7 |
| Available Liquidity | 3,400.2 | 3,785.6 |
| Net-Debt-to-Equity | 2.58x | 2.42x |
| Unsecured Debt Percentage | 87.8% | 79.4% |
| Liquidity Coverage Ratio | 277% | 274% |
(1) Adjusted to exclude exceptional items.
Selected Business & Operational Highlights:
- Number of aircraft acquired: 280 (owned: 261; managed: 19) (2)
- Number of aircraft sold: 111 (owned: 94; managed: 17)
- Lease agreements, extensions, and amendments signed: 273 (owned: 227; managed: 46)
- Owned, Managed, and Committed Aircraft in Fleet: 678
- Signed and completed a long-term sale and lease back transaction with United Airlines for 10 Boeing 737-9 aircraft
- Placed on long-term lease 10 Boeing 737-8 aircraft with AJet
- Number of man hours booked (DAE Engineering): >1.8 million
- Number of checks performed (DAE Engineering): >260
- Inaugurated a 5-bay heavy maintenance hangar increasing capacity by 30%
- Priced US$610 million two-tranche aircraft ABS for a DAE managed asset client
- Priced US$650 million 5-year benchmark sukuk transaction
- Placed on Positive Outlook by KBRA
(2) Includes the acquisition of Nordic Aviation Capital DAC (“NAC”)
Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated, “2025 was another exceptional year for the DAE franchise. We announced and closed the acquisition of NAC. In total, we acquired 280 and sold 111 aircraft. Our fleet of Owned and Managed aircraft grew by 38% to 604 at year-end 2025. Full-year Revenues grew 21% while pre-tax profitability increased 43%, delivering continued improvement in pre-tax profit margin and return on equity.
Despite our impressive growth, our balance sheet disciplines around capital adequacy, funding, and liquidity metrics remained intact. During the year, we raised US$3.9 billion in long-term debt financing across multiple public and private transactions.
DAE Engineering delivered another year of record performance with revenue increasing year-on-year by 13% to US$211 million, and profitability increasing by 47% to US$64 million. The addition of a state-of-the-art hangar added five new wide and narrow-body capable lines at our facility in Amman, Jordan, increasing capacity by approximately 30%, further cementing Joramco’s position as one of the leading airframe MRO providers in the region.”
Webcast and Conference Call
In connection with the announcement of DAE’s results for the year ended December 31, 2025, management will host a conference call on Wednesday, 04 February 2026 at 09:00 EST / 14:00 GMT / 18:00 GST / 22:00 SGT.
The call can be accessed by clicking here to attend the presentation from your laptop, tablet or mobile device, or by clicking here to generate your unique dial-in PIN and to access the full list of toll-free dial-in numbers.
Full details of the call can also be accessed live via the link on DAE’s website:
www.dubaiaerospace.com/investors.
Forward Looking Statements
Certain information contained in this Press Release may constitute “forward-looking statements” which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “could”, “continue”, “expect”, “anticipate”, “predict”, “project”, “plan”, “estimate”, “budget”, “assume”, “potential”, “future”, “intend” or “believe” or the negatives thereof or other comparable terminology. These statements reflect DAE’s current expectations and assumptions and involve known and unknown risks regarding future events, results or outcomes and are not guarantees of future results or financial condition. Actual results, performance, achievements, or conditions may differ materially from those in the forward‐looking statements and assumptions as a result of a number of factors, many of which are beyond DAE’s control.
Non-IFRS Financial Information
This Press Release may include certain non-IFRS financial information, such as Adjusted EBITDA, not prepared in accordance with IFRS. Because of the limitations of Adjusted EBITDA, it should not be considered as a substitute for financial information prepared or determined in accordance with IFRS, as applicable. Where applicable, DAE compensates for these limitations by relying primarily on its IFRS results and using Adjusted EBITDA only for supplemental purposes.
* ENDS *
About DAE
Dubai Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aviation services corporation with two divisions: DAE Capital and DAE Engineering. Headquartered in Dubai, DAE serves over 200 airline customers in over 80 countries from six office locations in Dubai, Dublin, Amman, Singapore, Miami, and Seattle.
DAE Capital is an award-winning aircraft lessor with an owned, managed, and committed fleet of approximately 700 Airbus, ATR, and Boeing aircraft, with a fleet value of US$25 billion. DAE Engineering provides regional MRO services to customers in Europe, Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 24 wide and narrow body aircraft. It is authorized to work on 16 aircraft types and has regulatory approval from over 30 regulators globally.
More information can be found on the company’s website at www.dubaiaerospace.com.
For further information, please contact:
| Media | Fixed Income Investors |
| Omar Alziri | Deion McCarthy |
| +971 4 428 9554 | +971 4 428 9576 |
| press.office@dubaiaerospace.com | investorrelations@dubaiaerospace.com |

