Dubai Aerospace Enterprise (DAE) announced today the signing of a definitive agreement to acquire 100% of Macquarie Airfinance Limited (MAF) for a total value of approximately $7 billion.
Upon completion of the acquisition, the company will initially have a fleet of 1,029 owned, managed, and committed aircraft, serving 191 customers across 79 countries. Narrow-body aircraft are expected to represent approximately 70% of the combined fleet.
The deal is expected to add 37 new airlines to DAE's customer portfolio upon closing, expanding its presence to seven new countries. According to today's statement, the transaction will be financed through a mix of debt and equity, preserving DAE's current credit ratings.
"This transaction marks a significant strategic milestone in reinforcing DAE's position among the world's elite aircraft lessors," said Khalifa Al Dabbous, Managing Director of DAE. "It reaffirms our continued disciplined approach to acquiring high-quality platforms and fleets that add qualitative value to our operations, enhance our competitive presence, and deliver sustainable and rewarding returns to our shareholders."
"Bringing Macquarie Airfinance's fleet and capabilities is a strategic step that enhances the scale and global reach of DAE's operations, solidifying its position as the largest and most diverse aircraft leasing company with a strong capital base," said Firouz Tarapore, CEO of DAE. "This expansion, coupled with strengthening the order book, enhances our ability to serve a broader customer base through competitive solutions supported by higher operational and financial efficiency."
He added that the company's operational platform with advanced institutional capabilities is well-positioned to efficiently absorb this transaction. It is expected that upon completion, the company's fleet size will more than double compared to the end of 2024.
The DAE Board of Directors has approved the transaction, which is subject to customary closing conditions, including obtaining necessary regulatory approvals. The deal is expected to close in the second half of 2026.
Allen Overy Sherman Sterling and KPMG acted as financial advisors to DAE on this transaction.
