Dubai Aerospace Enterprise (DAE) reported its financial results for the three months ended March 31, 2026.
For the quarter, DAE
posted total revenue of $455.5 million, up from $395.9 million a year earlier.
Profit before tax rose
to $120.4 million compared with $101.2 million in the same period last year.
Operating cash flow
stood at $296.3 million versus $344.7 million in Q1 2025.
The company’s pre-tax
profit margin improved to 26.4%, up from 25.6%, while pre-tax return on equity
remained stable at 13.0%.
As of March 31, 2026,
total assets were $16.34 billion, compared with $16.55 billion at the end of
2025.
Net loans and
borrowings decreased to $9.95 billion from $10.23 billion, while available
liquidity increased significantly to $4.55 billion from $3.40 billion.
DAE reported a
net-debt-to-equity ratio of 2.50x, an improvement from 2.58x, while the
unsecured debt percentage rose slightly to 88.5%.
The liquidity coverage
ratio improved sharply to 1,089%, compared with 277% at year-end 2025.
Operationally, DAE
acquired 9 aircraft and sold 15 aircraft during the quarter.
It signed 64 lease
agreements, extensions, and amendments, bringing its owned, managed, and
committed fleet to 663 aircraft.
DAE Engineering
recorded approximately 500,000 man hours and completed 69 maintenance checks.
During the period, the
company secured $2.8 billion in new long-term unsecured revolving credit
facilities and signed a definitive agreement to acquire Macquarie AirFinance in
a deal valued at approximately $7 billion.
In addition, KBRA upgraded DAE’s senior unsecured debt rating to ‘A-’.
Firoz Tarapore, Chief
Executive Officer of DAE, stated: “The first quarter of 2026 was an exceptional
one for the DAE franchise. During the quarter, we signed a definitive agreement
to acquire 100% of Macquarie AirFinance for an enterprise value of
approximately $7 billion. When completed, the transaction will add
approximately 350 owned and committed aircraft to our fleet. Our stellar financial performance over the last
five years combined with our enhanced franchise scale led to an upgrade of our
senior unsecured debt ratings to ‘A-’ by KBRA, a global full-service rating
agency.”
Tarapore added: “Despite
uncertainties created by the regional conflict, our strong financial
performance in the first quarter reflected the strength of our franchise.
Revenue rose to a record level, and margins expanded. Revenue at DAE
Engineering declined, reflecting lower levels of business activity during March
due to the regional conflict and related airspace closures.” -TradeArabia News Service
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
