Dubai Aerospace Enterprise (DAE) saw its bottom line increase 36.2% y-o-y to USD 477.5 mn in 2024, according to its financials (pdf). The company’s revenues rose 8.7% y-o-y to USD 1.43 bn during the same period.

Driving the growth: The bulk of the top line comprises net lease revenues of USD 1.18 bn, which grew 5.6% y-o-y driven by aircraft acquisitions and lease placements of previously grounded aircraft. A rise in engineering maintenance service revenues also contributed to topline growth, rising by 32.8% y-o-y to reach USD 186.4 mn. The company also cited higher profits from operations and ins. recoveries to explain bottomline growth.

A solid fleet: DAE’s leasing division fleet consists of 506 Airbus, Boeing, and ATR aircraft valued at some USD 20 bn — which comprises 329 owned, 110 managed, and 67 committed aircraft. DAE purchased 30 owned aircraft and 53 managed aircraft and sold 19 owned aircraft and 49 managed aircraft.

ICYMI: DAE saw its net income rise 54.9% y-o-y to USD 310.8 mn in 9M 2024, with revenues growing 2.8% y-o-y to USD 1 bn during the period.

DAE is continuing its expansions in 2025…: The firm inked a definitive agreement in January to acquire 100% of Irish aircraft leasing company Nordic Aviation Capital (NAC) — which brought DAE’s total fleet size to about 750 aircraft worth USD 22 bn, leased to 170 airlines in 70 countries. It also inked an agreement with K2 Aviation to sell seven Airbus and Boeing aircraft on a leasing contract to six undisclosed airlines, expected to close in 1H this year.

…as it did in FY 2024: The company inked a USD 500 mn agreement back in October to acquire 10 narrow-body aircraft, which the company then said would be leased to four airlines across four countries. DAE also inked USD 1.1 bn agreements back in August to acquire 23 aircraft from several entities, with planes to be leased to 13 airlines in nine different countries.

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