Dubai Aerospace Enterprise (DAE) reported a 43% decline in profit for the first nine months of 2026, despite a 13.2% increase in revenue, as higher insurance recoveries boosted the previous year’s comparative results.
Profit for the nine months ended September 30 fell to US$323.2 million from US$566.7 million a year earlier. The decline was primarily attributable to higher insurance recoveries recognised in the corresponding period of 2025.
Revenue rose to US$1.447 billion from US$1.278 billion, driven by additional lease income following a business combination and aircraft acquisitions, partly offset by lower engineering maintenance services revenue.
Operating profit before exceptional items increased by 15.8% to US$794.8 million, compared with US$686.1 million in the same period last year. The improvement reflected higher revenue and gains from aircraft disposals, partly offset by increased depreciation and amortisation.
Total assets stood at US$26.83 billion on September 30, compared with US$16.55 billion at the end of 2025, mainly reflecting aircraft acquired through the business combination.
Available liquidity increased to US$5.60 billion from US$3.40 billion on December 31, 2025. The liquidity coverage ratio rose to 440% from 277%, supported by US$2.8 billion in new unsecured revolving credit facilities secured during the period. The net debt-to-equity ratio stood at 2.60 times, compared with 2.58 times at the end of 2025.
DAE’s fleet grew to 983 aircraft at the end of September, up from 678 at the end of 2025. The portfolio comprised 716 owned aircraft, 120 managed aircraft and 147 committed aircraft, compared with 492, 112 and 74, respectively, at the end of last year.
