Dubai Aerospace Enterprise, the owner of Joramco, has said the MRO provider performed more than 300 aircraft checks in 2024, resulting in more than 1.5 million billable labor hours.
This was in line with Joramco’s nine-month performance, when it reported a 35% rise in sales for the January-September period.
The increase in revenue was due to higher billed labor hours on heavy maintenance checks, new MRO market shares captured and overall operational efficiencies, Dubai Aerospace Enterprise (DAE) said.
“Global MRO capacity shortages are resulting in full hangars and positive revenue growth at Joramco," said DAE boss Firoz Tarapore at the time, adding: “We’re seeing very strong demand supported by very healthy pricing … Our 17-bay hangars are mostly full all year.”
Amman, Jordan-based Joramco enjoys an advantageous geographical position for business from several regions, with roughly 60% of its sales coming from Europe and 35% from the Middle East.
DAE also noted that Joramco is adding new shop repair capabilities to build on an agreement signed in 2023 with Spirit AeroSystems.
Under the composite and metallic structures repair deal, Joramco was to initially provide total nacelle repair services to both Airbus A320 and Boeing 737 aircraft in partnership with Spirit AeroSystems, and was then to expand the services to other platforms, including the 777.
DAE also noted that Joramco increased its capacity by 30% during 2024 after completing construction of a new five-bay hangar that includes one A380 bay.
It was also a busy year for DAE’s leasing arm, DAE Capital, which conducted 151 aircraft purchases and sales in 2024, roughly three times as many as a year earlier.
DAE Capital also signed 233 lease agreements, extensions and amendments during 2024.
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