Plane lessor Dubai Aerospace Enterprise (DAE), and Blackstone Credit & Insurance (BXCI) have agreed to launch a platform that will invest $1.6 billion annually to build a portfolio of commercial aircraft.
Equator, the joint venture between the Dubai lessor and BXCI, of the world’s biggest credit investors, will build a diversified portfolio of commercial aircraft, which will be leased to airlines around the world, the companies said in a statement on Thursday.
DAE will source the assets from third parties while its units Aircraft Investor Services group will manage the assets owned by Equator.
“Blackstone’s scaled and flexible capital provides a strong foundation to grow our third-party fleet management franchise,” said Firoz Tarapore, chief executive of DAE.
“Our fleet size, global customer and counterparty reach, and dedicated client support team makes DAE uniquely positioned to support Equator’s long-term success.”
The DAE and BXCI agreement marks the expansion of Blackstone, the world’s biggest alternative investment managers, into aviation finance market which. The sector has grown rapidly over the years, driven by increasing demand for jets from airlines looking to expand their operations amid persistent aircraft supply constraints.
“This programme underscores BXCI’s focus on deploying flexible capital into high-quality investments backed by hard assets,” said Aneek Mamik, senior managing director and head of financial services for asset-based finance at BXCI.
The company, he said, expects to “provide a full spectrum of capital to support the programme”, which will enable flexible financing solutions across market cycles and investment opportunities.
BXCI’s Infrastructure and Asset Based Credit Group manages more than $100 billion in assets. The platform provides both investment and non-investment grade credit, as well as structured investments in sectors across infrastructure, commercial finance, fund finance, consumer finance, and real estate lending.
For Equator, the BXCI investor group will include capital from funds managed by ITE Management, a strategic partner of BXCI, the company said.
The Dubai-headquartered DAE has a fleet of approximately 700 aircraft, including more than 100 valued at more than $4 billion under third-party management as of end-2025, according to the statement.
Among the biggest plane lessors in the world, the company in February said it has agreed to acquire Macquarie AirFinance for $7 billion, marking further consolidation in the plane-leasing industry.
Upon competition of the deal, 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 at the time.
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, it added.
