Joramco will soon operate 22 maintenance hangars in Amman and plans to add more in the coming years.
Dubai Aerospace Enterprise is reportedly looking to offload its 80% stake in Jordanian maintenance provider Joramco.
According to Bloomberg, the United Arab Emirates-based aviation services company has reportedly sought out Morgan Stanley about the possibility of divesting its entire holding in the company, which it bought from the now defunct private equity firm Abraaj Group in September 2016. The remaining 20% is owned by Royal Jordanian Airlines.
Dubai Aerospace Enterprise (DAE), which recently reported a 45% increase in pre-tax profits for 2024, stated in its results earlier this year that Joramco, which operates under the company’s DAE Engineering division, performed more than 300 aircraft checks last year, resulting in more than 1.5 million billable labor hours.
Aviation Week Network has reached out to both DAE and Joramco for comment on a potential sale.
A possible sale would come at a time of strong demand for Joramco, which recently reported sold out slots for 2025 with most high season slots sold out next year. Joramco CEO Fraser Currie cited particularly strong widebody MRO demand in an interview with Aviation Week Network in February.
In recent years, it has grown its lines of maintenance with customers such as Irish low-cost carrier Ryanair, expanding its current commitments to comprise 10 lines of heavy maintenance for the next 10 years. It has also recently added new customers such as Norse Atlantic Airways, for whom it will carry out base maintenance for a five-year period on its Boeing 787 fleet.
To meet demand, Joramco is growing its hangar capacity over the next few years by investing up to $100 million at its Amman headquarters. At the end of the first quarter this year, the MRO provider is set to open a new hangar capable of accommodating five lines of narrowbody maintenance or a combination of narrowbody and widebody aircraft as large as the Airbus A380. Once operational, the expanded facilities would make Joramco one of the Middle East region’s largest MRO providers with 22 hangars in total.
Longer term, it plans to add a further maintenance hangar in 2026 and a paint facility by 2028 that will have capacity to simultaneously accommodate one widebody and one narrowbody or two narrowbodies.
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