Dubai Aerospace To Buy Joramco Stake

Dubai Aerospace has signed an agreement to buy 80 percent of Jordan Aircraft Maintenance.

Joramco is an independent commercial aircraft maintenance, repair and overhaul company with customers in the Middle East, Europe, South Asia, Africa, Russia and the CIS countries.

Terms of the transaction were not disclosed.

“We welcome Joramco to the DAE family and look forward to… expanding its product offerings, customer reach and geographic area of focus,” Dubai Aerospace Managing Director Khalifa AlDaboos said in a statement.

DAE is an aircraft leasing company with a portfolio of 78 aircraft.