Dubai Aerospace Enterprise (DAE) reported a profit of $566.7 million for the first nine months of 2025, up from $310.8 million in the same period last year.
Pre-tax profits doubled from $326.6 million to $653 million, while operating profit climbed from $512.1 million to $686.1 million. This was driven by gains on the disposal of aircraft, which totalled $126.4 million, and a 25.6% rise in revenues, which totalled $1.3bn.
The revenue increase was attributed to the incremental lease revenue associated with aircraft acquired through its acquisition of NAC earlier this year, and through other channels, as well as higher maintenance revenue.
“Our financial results for the third quarter of 2025 reflect the ownership of NAC, which was completed in May 2025,” said Firoz Tarapore, CEO of DAE. “The acquisition has now been fully integrated across all of our operating systems.”
DAE Engineering's revenues were up 16.5% to $155.5 million, with profitability increasing 56.3% to $46.1 million, for the first nine months of 2025.
Operating cash flow was $1.1bn for the period, up from $904.1 million last year.
As of the end of September, the lessor had 726 aircraft in its owned, managed, and committed fleet.
During the first nine months of the year, the company acquired 263 aircraft and sold 59 jets. The company signed 162 lease agreements, extensions, and amendments.
“Capital adequacy, funding, and liquidity metrics remained comfortably within our internal and stakeholder targets,” said Tarapore.
As of the end of September, the company had $16.4bn in total assets, up from $13bn at the end of December, driven by the aircraft acquisitions executed over the nine months.
Net debt to equity was 2.6x, up from 2.42x at the end of last year. The company had $3.4bn in available liquidity.