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DAE completes acquisition of Jordan aviation group

aTP-  Arab tourism portal News-  Dubai Aerospace Enterprise (DAE) said it has completed the acquisition of 80 per cent stake in Jordan Aircraft Maintenance Limited (Joramco) from The Abraaj Group.

The agreement -----to purchase was previously announced on September 20.Dubai Aerospace Enterprise (DAE) is a globally recognized aerospace company headquartered in Dubai.

Founded in 2006, DAE boasts of two key divisions - DAE Engineering that provides global MRO services under the brand name StandardAero, and DAE Capital, which focuses on aircraft leasing.

A specialist in aircraft leasing, financing and other management services, DAE Capital is the largest aircraft leasing firm in the Middle East.

DAE Capital presently has a fleet of 78 aircraft with a net book value of $4 billion, which are leased to various airlines around the world