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Tue 20 Sep 2016 02:03 PM

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Dubai's DAE buys 80% stake in aircraft maintenance firm

Dubai Aerospace Enterprise announces agreement with Abraaj Group for stake in Jordan Aircraft Maintenance Limited

Dubai's DAE buys 80% stake in aircraft maintenance firm

Dubai Aerospace Enterprise (DAE) Ltd has announced the signing of an agreement to acquire 80 percent of Jordan Aircraft Maintenance Limited (Joramco) from The Abraaj Group. 

Terms of the transaction were not disclosed.

Established in 1963, Joramco operates as a commercial aircraft maintenance, repair and overhaul (MRO) facility serving a wide range of customers in the Middle East, Europe, South Asia, Africa, Russia and the CIS countries.

From its base in Queen Alia International Airport in Amman, Joramco offers services on several aircraft models manufactured by Airbus, Boeing and Embraer.

Khalifa H AlDaboos, DAE managing director, said: “Joramco with its experienced staff provides a high quality product at a very competitive price to regional and global airlines.

"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.”

Joramco is certified by a number of regulatory authorities which include the Jordan Civil Aviation Regulatory Commission (JCARC), the US Federal Aviation Administration (FAA), the European Aviation Safety Agency (EASA), and the UAE General Civil Aviation Authority (GCAA).

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