Dubai Aerospace Enterprise to buy Macquarie AirFinance in $7B deal

Dubai Aerospace Enterprise said Thursday it has agreed to purchase Macquarie AirFinance in a transaction valued at roughly $7 billion, a move that will create a combined fleet of 1,029 aircraft and position the company among the largest aircraft lessors worldwide.

The agreement, which followed a competitive auction process, highlights sustained investor interest in aviation assets at a time when aircraft supply remains tight. Production bottlenecks at Boeing (BA) and Airbus (EADSF) (EADSY) have limited deliveries, increasing the strategic value of existing fleets.

The aircraft leasing sector is currently led by Ireland-based AerCap Holdings (AER) and SMBC Aviation Capital. Analysts said the addition of Macquarie AirFinance would propel DAE into the industry’s top ranks.

Following the deal, the enlarged portfolio will serve 191 airlines across 79 countries, with narrowbody aircraft representing approximately 70% of the fleet, according to DAE. The purchase brings 37 additional airline customers into DAE’s network, including carriers in seven markets where it previously had no footprint.

DAE said it will finance the acquisition through a combination of debt and equity. Chief Executive Firoz Tarapore described the transaction as transformative, saying it would result in a larger, better-capitalized and more diversified company. He added that greater scale should enable more competitive pricing and a wider range of leasing solutions for customers.

Dubai Aerospace Enterprise is owned by the Investment Corporation of Dubai, the emirate’s principal investment vehicle. The company previously expanded its presence in 2017 with the acquisition of Dublin-based AWAS, then ranked among the world’s top aircraft lessors.

Macquarie AirFinance is controlled by Australia’s Macquarie Group (MCQEF)(MQBKY), a diversified financial services firm.

The transaction has received board approval from DAE and remains subject to regulatory clearances. The companies expect the deal to close in the second half of 2026.