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SNG: DAE reports 13.2% revenue growth as fleet expands to nearly 1,000 aircraft

By Zawya

By Staff Writer

Dubai Aerospace Enterprise (DAE) reported a 13.2% increase in revenue to $1.4469 billion for the first nine months of 2026, compared with $1.2777 billion in the corresponding period last year, supported by fleet expansion and increased leasing activity.

Pre-tax profit excluding exceptional items rose to $370.7 million from $340.8 million, while the adjusted pre-tax profit margin stood at 25.6%. Operating cash flow reached $1.0881 billion, compared with $1.1274 billion a year earlier.

Total assets increased to $26.8343 billion at the end of September, up from $16.5477 billion at the end of 2025. Net debt and borrowings stood at $16.7513 billion, with available liquidity of $5.5985 billion.

Operationally, DAE completed its $9 billion acquisition of Macquarie AirFinance Limited (MAF) in July, adding 290 aircraft, including 272 owned and 18 managed aircraft.

During the nine-month period, the company sold 58 aircraft and signed 195 lease agreements, extensions and amendments. Its combined owned, managed and committed fleet reached 983 aircraft, including 716 owned aircraft, making DAE the world's second-largest aircraft lessor, according to the company.

DAE Engineering also recorded approximately 900,000 booked man-hours and completed more than 170 checks. The company announced a purchase and leaseback transaction with Saudia involving four Boeing 777F freighters.

Firoz Tarapore, CEO of DAE, said the MAF acquisition had doubled the company's combined fleet over 24 months, while strengthening its ability to serve airline customers and expand relationships with suppliers and trading counterparties.

He added that the acquisition, alongside previously announced mandates from Blackstone and Neuberger, puts DAE on track to reach a combined fleet of approximately 1,300 aircraft.

Tarapore said liquidity and capital adequacy remained strong following the acquisition, with the functional integration of MAF completed and full integration expected by the end of November 2026. -TradeArabia News Service

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