Dubai, UAE — Dubai Aerospace Enterprise (DAE) on Wednesday posted a 36.2 percent growth in profits to US$477.5 million in 2024 from US$ 350.6 million in 2023.
According to financial results, revenues grew by 9 percent in 2024 to US$1.42 billion from US$1.31 billion in 2023.
Total assets reached more than US$13 billion by the end of 2024 compared to US$12.26 billion in 2023.
DAE said it acquired 83 aircraft (owned: 30; managed: 53) and sold 68 (owned: 19; managed: 49).
Firoz Tarapore, Chief Executive Officer of DAE, said, “We advanced the franchise forward yet again in 2024 by acquiring 83 owned and managed aircraft, growing revenue by 9 percent and increasing pre-tax profitability by 45 percent.”
“DAE Engineering continues to deliver record performance with revenue increasing year-on-year by 33 percent to US$186.4 million, and profitability increasing by 94 percent to US$43.2 million. The addition of a state-of-the-art hangar with five new lines at our facility in Amman, Jordan, will augment our capacity by approximately 30 percent, further cementing Joramco’s position as one of the leading airframe MRO providers in the region.”