Joramco exhibited at MRO Americas for the first time in 2026.
Credit: Joramco
The third Gulf war has halted several years of continuous growth at Amman, Jordan-based MRO provider Joramco.
Its owner, DAE, reported revenue of $48 million in the first three months of 2026 for Joramco, which falls under its DAE Engineering segment.
This put it back to 2024 levels and was roughly a third down on the first three months of last year.
“During the period, DAE Engineering’s revenue declined because customers were unable to bring their aircraft to our facility for normally scheduled maintenance activities,” DAE stated.
In the first quarter, DAE Engineering serviced 69 aircraft, compared with 102 in the prior-year period.
Joramco had expected this year to build on its post-pandemic revenue momentum following completions last year of a new hangar with five additional heavy maintenance lines. In April the company exhibited at MRO Americas for the first time. Its presence at the event in Orlando, Florida, reflects its broader ambitions.
DAE’s aircraft leasing business also received two short-term rent deferral requests, and while the conflict is yet to materially affect the overall business—which posted a higher profit year on year—management said it continues to closely monitor events as “the situation remains fluid.”
Management also noted that as a result of the conflict, disruption of supplies to the global oil market had affected Gulf economies, while airlines operating from the region are experiencing declines in revenue.
About 11% of DAE Capital’s aircraft leasing portfolio is based in the Middle East.
The MRO provider now has a total capacity of 24 heavy maintenance lines across six aircraft hangars, some which now sit idle due the Iran war.
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