Dubai's DAE closes deal to buy 80% of aircraft maintenance firm

Dubai Aerospace Enterprise completes acquisition of majority stake in Jordan Aircraft Maintenance Limited
Dubai's DAE closes deal to buy 80% of aircraft maintenance firm
By Staff writer
Sat 08 Oct 2016 10:26 AM

Dubai Aerospace Enterprise (DAE) Ltd has announced that it has closed the acquisition of 80 percent of Jordan Aircraft Maintenance Limited (Joramco) from The Abraaj Group.

The agreement to purchase was previously announced on September 20, the company said in a statement.

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.

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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