Dubai Aerospace Enterprise (DAE) announced today (February 26) that it had signed a definitive agreement to acquire 100% of Macquarie AirFinance Limited (MAF), a global aviation lessor providing aircraft and capital to the world's airlines headquartered in San Francisco, for an approximate enterprise value of $7 billion.
The combined company will have a pro forma fleet of 1,029 owned, managed and committed aircraft and will serve 191 airline customers in 79 countries. Narrowbody aircraft will represent approximately 70 percent of the combined fleet.
DAE is expected to welcome 37 new airline customers to its portfolio on completion, including airline customers in 7 new country exposures.
The transaction will be funded with a combination of debt and equity to support DAE’s current investment grade credit ratings.
Commenting on the transaction, Khalifa AlDaboos, Managing Director of DAE, said: "This transaction demonstrates the shareholder’s long-standing commitment to making DAE one of the world’s most preeminent aircraft leasing companies. This transaction continues DAE’s tradition of acquiring established platforms and fleets that are franchise enhancing in nature and represent exceptional shareholder value."
This transaction has been approved by the Board of Directors of DAE. It is now subject to customary closing conditions, including the receipt of certain regulatory approvals and is expected to close in the second half of 2026.
On the strategic move, CEO Firoz Tarapore said: "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 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."
"Our industrial-strength platform will effortlessly handle the onboarding of this transaction which, when completed, will more than double DAE’s fleet size compared to year-end 2024," he added.
DAE was advised by Allen Overy Shearman Sterling LLP and KPMG.-TradeArabia News Service
