Today's Edition
DUBAI (WAM)
Dubai Aerospace Enterprise (DAE) Ltd announced on Wednesday a net profit of $102.2 million for the first quarter of 2026, marking a 19.11 percent increase compared to $85.8 million recorded during the same period in 2025.
The company reported profit before tax of $120.4 million, compared to $101.2 million in the corresponding period last year.
Revenue rose by 15 percent to a record $455.5 million, compared to $395.9 million in the first quarter of 2025.
Operating profit reached $243.1 million, compared to $201.4 million, while net finance costs stood at $122.7 million. Income tax expenses amounted to $18.2 million during the period.
Operating cash flow totalled $296.3 million, compared to $344.7 million in the same period last year.
The pre-tax profit margin increased to 26.4 percent from 25.6 percent, while the pre-tax return on equity remained stable at 13 percent.
In terms of financial position, total assets stood at $16.336 billion at the end of March 2026, compared to approximately $16.547 billion at the end of December 2025.
Available liquidity rose to $4.547 billion from $3.4 billion, while the liquidity coverage ratio improved to 1,089 percent compared to 277 percent.
On the operational front, the company acquired nine aircraft and sold 15 aircraft, while signing 64 lease agreements, extensions and amendments.
The total number of owned, managed and committed aircraft in its fleet reached 663.
Dubai Aerospace Enterprise also signed new long-term unsecured revolving credit facilities worth $2.8 billion.
CEO of DAE, Firoz Tarapore, said "The first quarter of 2026 was an exceptional one for the DAE franchise."
"During the quarter, we signed a definitive agreement to acquire 100 percent of Macquarie AirFinance Limited for an enterprise value of approximately $7 billion. When completed, the transaction will add approximately 350 owned and committed aircraft to our fleet."
He added that DAE's stellar financial performance over the last five years, combined with its enhanced franchise scale, led to an upgrade of senior unsecured debt ratings to ‘A-’ by KBRA, a global full-service rating agency.
"Our strong financial performance in the first quarter reflected the strength of our franchise. Revenue rose to a record level, and margins expanded," Tarapore stated.
