Plane lessor Dubai Aerospace Enterprise (DAE) said on Thursday that is has agreed to acquire Macquarie AirFinance for $7 billion, marking further consolidation in the plane-leasing industry and growing its fleet to more than 1,000 aircraft.
The combined company will have a fleet of 1,029 owned, managed and committed aircraft that will serve 191 airline customers in 79 countries. Narrow-body jets will make up about 70 per cent of the combined fleet, DAE said in a statement.
The deal will add 37 airline customers to the lessor's portfolio, including airlines in seven countries where the Dubai state-owned company did not previously have a presence.
The acquisition will “create a bigger, stronger, more diversified, and well-capitalised aircraft leasing company”, Firoz Tarapore, chief executive of DAE, said.
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A display by the Airbus 350 at the Dubai Airshow. All photos: Chris Whiteoak / The National -
The event is attracting lots of delegates to Al Maktoum International Airport -
Sheikh Ahmed bin Saeed, chairman and chief executive of Emirates airline and group, at a media conference at the event -
The Rafale fighter jet is worth a watch as it takes to the skies above Dubai -
Brad McMullen, left, from Boeing and Yankoba Dieme from Air Senagal sign an agreement -
An air defence system on display -
The UAE's Al Fursan aerobatic team put on a display -
Emirates cabin crew arrive -
The Omen drone is displayed at the Edge stand -
Visitors arrive for the event, which is pivotal for airlines in the Middle East -
Abu Dhabi's Edge is among the companies exhibiting technology at the event -
A turboprop engine. Companies use the event to meet plane makers, engine manufacturers and seat suppliers -
Visitors take a closer look at an Emirates Boeing 777 -
A model of a MAH-1 Marine attack helicopter. It is among the aircraft in the spotlight at the exhibition -
A spacesuit worn by SpaceX astronauts -
Model rockets at the Innospace stand. Space technology is in focus at the air show
“Our increased scale and presence, along with an enhanced order book, will allow us to serve an additional number of customers with competitively priced offerings that reflect the synergies associated with our new scale.”
The acquisition of Macquarie AirFinance will more than double DAE’s fleet compared to the end of 2024, he added.
The deal, which is subject to closing conditions and regulatory approvals, is expected to close in the second half of 2026, according to DAE.
Founded in 2006, lessor Macquarie AirFinance is 50 per cent owned by Macquarie Group.
It has a portfolio of 352 commercial aircraft, including orders, across 48 countries, according to a separate statement by Macquarie Asset Management. These include 191 Airbus aircraft and 134 Boeing planes.
Before the deal with Macquarie AirFinance, DAE had a portfolio of 700 aircraft comprising Airbus, Boeing and ATRs, valued at $25 billion, according to its latest data.
Last year, DAE acquired regional aircraft leasing company Nordic Aviation Capital in a deal worth about $2 billion for its fleet of just over 250 jets.
