Dubai Aerospace Enterprise (DAE) is set to become one of the world’s largest aircraft leasing platforms after signing a definitive agreement to acquire Macquarie AirFinance in an all-cash transaction valued at about $7 billion, marking one of the most significant aviation finance deals of the year.

The acquisition will create a combined fleet of 1,029 owned, managed and committed aircraft, serving 191 airline customers across 79 countries.  

Narrow-body aircraft — the workhorses of global aviation — will account for about 70 per cent of the enlarged fleet, reflecting continued demand for fuel-efficient jets as airlines rebuild capacity and expand regional networks.

The deal is expected to add 37 new airline customers to DAE’s portfolio and expand its reach into seven new country markets, further strengthening the Dubai-based lessor’s global footprint. Once completed, the transaction will more than double DAE’s fleet compared with its size at the end of 2024, reinforcing its ambitions to rank among the world’s most prominent aircraft leasing companies.

The acquisition will be funded through a mix of debt and equity, with DAE aiming to maintain its investment-grade credit ratings while positioning itself for a potential upgrade as the business scales up. The company said the enlarged platform will benefit from stronger diversification, enhanced order books and improved capital efficiency, enabling it to provide competitively priced leasing solutions to a broader customer base.

Khalifa AlDaboos, managing director of DAE, said the transaction reflects shareholders’ long-term commitment to building a globally leading aviation leasing franchise. “This transaction demonstrates the shareholder’s long-standing commitment to making DAE one of the world’s most preeminent aircraft leasing companies. It continues DAE’s tradition of acquiring established platforms and fleets that are franchise enhancing and deliver exceptional shareholder value,” he said.

Chief Executive Officer Firoz Tarapore said integrating Macquarie AirFinance will significantly boost DAE’s scale and capabilities. “We are thrilled at this opportunity to bring the fleet and people of MAF into our fold and create a bigger, stronger, more diversified and well-capitalised aircraft leasing company. Our increased scale and enhanced order book will allow us to serve more customers with competitively priced offerings while capturing the synergies of our expanded platform,” he said.

The transaction has been approved by DAE’s board and is subject to customary regulatory approvals. It is expected to close in the second half of 2026.

The acquisition comes amid a period of rapid expansion and strategic consolidation for DAE. Over the past 18 months, the company has significantly expanded its portfolio through targeted acquisitions and order-book growth, strengthening its presence in key aviation markets and deepening relationships with global carriers. It has also focused on fleet modernisation, prioritising next-generation narrowbody aircraft that offer greater fuel efficiency and lower emissions, aligning with airlines’ cost and sustainability goals.

DAE has continued to diversify funding sources and optimise its balance sheet, maintaining strong access to global debt markets while reinforcing its investment-grade profile. The company has also expanded asset management and leasing services, positioning itself as a full-spectrum aviation finance provider.

With global air travel rebounding and airlines seeking flexible fleet solutions, the enlarged DAE platform is expected to benefit from strong leasing demand and improved pricing power. Industry analysts say the deal underscores Dubai’s growing role as a global hub for aviation finance and aircraft leasing, as regional players scale up to meet rising global demand for modern aircraft and innovative financing structures.