DAE takes majority shareholding in Joramco
Dubai Aerospace Enterprise (DAE) Ltd is to acquire 80% of Jordan Aircraft Maintenance Limited (Joramco) from The Abraaj Group, the UAE company announced today.
Terms of the transaction were not disclosed. With more than 50 years in the MRO business, Joramco has a solid track record as a leading independent commercial aircraft maintenance 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 U.S. Federal Aviation Administration (FAA), the European Aviation Safety Agency (EASA), and the UAE General Civil Aviation Authority (GCAA). DAE managing director Khalifa H. AlDaboos 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.”