By Roshan Thomas and Hadeel Al Sayegh Feb 26 (Reuters) - Dubai Aerospace Enterprise said on Thursday it will buy aircraft leasing firm Macquarie AirFinance for an enterprise value of about $7 billion,
Dubai Aerospace Enterprise to acquire Macquarie AirFinance in $7B deal
By Roshan Thomas and Hadeel Al Sayegh
DAE–Macquarie AirFinance Acquisition Overview
Feb 26 (Reuters) - Dubai Aerospace Enterprise said on Thursday it will buy aircraft leasing firm Macquarie AirFinance for an enterprise value of about $7 billion, creating a combined fleet of 1,029 planes and one of the world's biggest lessors.
Market Context and Competitors
The sale, which followed a competitive bidding process, underscores strong investor appetite for aircraft assets as Boeing and Airbus struggle to ramp up production to meet airline demand.
The global aircraft leasing market is dominated by AerCap Holdings N.V. and SMBC Aviation Capital, both based in Ireland.
Top‑Tier Ranking Impact
The Macquarie AirFinance deal would lift DAE into the top tier, analysts said.
"(It) ... fast tracks Dubai Aerospace Enterprise to the forefront of global aircraft leasing," said Tim Waterer, chief market analyst at KCM Trade, adding that the deal also diversifies the Dubai state-owned lessor's customer base and increases exposure to newer aircraft, even as supply constraints at major manufacturers persist.
Narrowbody Mix (~70%)
Fleet and Customer Expansion
The combined fleet will serve 191 airlines in 79 countries, with narrowbody jets accounting for about 70% of the portfolio, DAE said.
Deal Financing and Structure
The acquisition, which adds 37 airline customers including carriers in seven countries where DAE has no presence, will be funded through a mix of debt and equity.
DAE CEO Firoz Tarapore said the deal would create a "bigger, stronger, more diversified and well-capitalised" company, adding that the combined entity's scale would support more competitive pricing and a broader customer offering.
Company Ownership and History
DAE is owned by the Investment Corporation of Dubai, the main investment arm for the government of the emirate. The company acquired Dublin-based AWAS, the world's tenth biggest aircraft lessor, in 2017.
Macquarie AirFinance is owned by Australia's diversified investment service provider Macquarie Group.
Regulatory Approvals and Timeline
The deal has been approved by DAE's board and is subject to regulatory approvals, DAE said in a statement.
Expected Closing: H2 2026
It is expected to close in the second half of 2026.
(Reporting by Roshan Thomas in Bengaluru and Hadeel Al Sayegh in Dubai; Editing by Sumana Nandy, Mrigank Dhaniwala and Nivedita Bhattacharjee)
