Dubai Aerospace Enterprise (DAE) reported solid financial results for the first half of 2026, with higher revenue, improved profitability and stronger liquidity, while advancing major strategic investments to expand its global aircraft leasing business.
The company posted revenue of $865.9 million for the six months ended June 30, 2026, up from $843.6 million during the same period last year.
Profit before tax and exceptional items rose to $229.9 million, compared with $217.1 million in the first half of 2025, maintaining a healthy pre-tax profit margin of 26.6%.
DAE also generated operating cash flow of $594 million, while its available liquidity increased to $4.4 billion, reinforcing its financial position to support future growth.
Strong fleet activity
During the first six months of 2026, DAE acquired 18 aircraft, including 17 owned and one managed aircraft, while selling 39 aircraft, comprising 32 owned and seven managed assets.
The company signed 114 lease agreements, extensions and amendments, covering 104 owned and 10 managed aircraft. By the end of the reporting period, DAE’s owned, managed and committed fleet stood at 638 aircraft.
Its engineering division also remained active, recording approximately 720,000 booked man-hours and completing 142 aircraft maintenance checks.
New investment platforms
DAE expanded its investment strategy by announcing two long-term aircraft investment platforms.
The first, Equator, was launched in partnership with Blackstone Credit & Insurance and is expected to target $1.6 billion in annual aircraft investments.
The second platform, Mustang, was established with Neuberger and aims to invest $6 billion in aircraft assets over the medium term.
CEO highlights expansion strategy
Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, said the first half of 2026 marked a transformative period for the company.
He highlighted the announced acquisition of Macquarie AirFinance Limited (MAF) alongside the launch of the two long-term co-investment programmes, noting that together they are expected to add around $15 billion in aircraft assets over the next five years.
Tarapore said DAE’s increased scale, broader product portfolio, disciplined underwriting approach and strong financial position would enable the company to better serve customers worldwide.
Following the completion of the MAF acquisition, DAE now serves more than 175 airline customers across 75 countries, with an owned, managed and committed fleet of approximately 1,000 aircraft.
