Dubai Aerospace Enterprise to acquire Macquarie AirFinance in US$7 billion deal

Dubai Aerospace Enterprise (DAE) has agreed to acquire Macquarie AirFinance in a transaction valuing the aircraft leasing business at approximately $7 billion, a move that will significantly expand the Dubai-based lessor’s global footprint.

The deal, announced on Thursday, will result in a combined portfolio of 1,029 owned, managed and committed aircraft serving 191 airline customers across 79 countries. Narrowbody aircraft will account for about 70% of the enlarged fleet.

Macquarie AirFinance, owned by Australia’s Macquarie Group, was sold following a bidding process. The transaction comes amid production delays at Boeing and Airbus, which have tightened the supply of new aircraft and fueled consolidation among lessors.

Upon completion, DAE expects to add 37 airline customers to its portfolio, including carriers in seven countries where it does not currently operate. The acquisition will be funded through a combination of debt and equity, with the company stating that it intends to maintain its investment-grade credit profile.

DAE chief executive Firoz Tarapore said the transaction would create a “bigger, stronger, more diversified and well-capitalized” aircraft leasing company, adding that the increased scale would allow it to offer more competitive pricing and serve a broader customer base.

Market analysts said the acquisition could elevate DAE into the leading ranks of the global aircraft leasing sector, which is currently dominated by AerCap and SMBC Aviation Capital.

DAE is owned by the Investment Corporation of Dubai and has expanded through acquisitions in the past, including the purchase of Dublin-based AWAS in 2017. The Macquarie AirFinance transaction has been approved by DAE’s board and remains subject to regulatory approvals. Closing is expected in the second half of 2026.

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