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DAE to Take 80% Stake In Joramco

Dubai Aerospace Enterprise (DAE) has signed a definitive agreement to acquire an 80 per cent stake in Jordan Aircraft Maintenance (Joramco) from The Abraaj Group.

Dubai Aerospace Enterprise (DAE) has signed a definitive agreement to acquire an 80 per cent stake in Jordan Aircraft Maintenance (Joramco) from The Abraaj Group.

Financial details of the deal haven’t been disclosed.

DAE managing director Khalifa Al Daboos said the Amman-based MRO “provides a high quality product at a very competitive price” to regional and global airlines.

The firm offers services on Airbus, Boeing and Embraer aircraft types, and holds certifications the Jordan Civil Aviation Regulatory Commission, the FAA, EASA and the UAE General Civil Aviation Authority.

“We welcome Joramco to the DAE family and look forward to working with the management to accelerate the growth trajectory of the company by expanding its product offerings, customer reach and geographic area of focus,” said Al Daboos.

TAGS: Middle East
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