Dubai, United Arab Emirates: Dubai Aerospace Enterprise (DAE) Ltd has completed its acquisition of 100% of the outstanding share capital of Macquarie AirFinance Limited (MAF) and its consolidated subsidiaries, in a transaction with an enterprise value of approximately US$9 billion.
DAE announced the completion on July 29, 2026, saying the transaction value includes the impact of changes to MAF’s fleet between the announcement of the acquisition and its closing. The deal, initially announced in February 2026, significantly expands DAE’s global aircraft leasing platform and positions the Dubai-based company as the world’s third-largest aircraft lessor by both fleet value and the number of owned and managed aircraft.
Following the acquisition, DAE now has an approximately 1,000-aircraft fleet comprising owned, managed and committed aircraft. Its owned and managed aircraft are leased to more than 175 airlines operating across over 75 countries.
DAE has also committed to acquiring roughly 150 additional aircraft from Boeing, Airbus, ATR and aircraft trading counterparties. According to the company, delivery positions in its order book now extend into the 2030s, providing greater flexibility to support the future fleet requirements of its airline customers.
Firoz Tarapore, Chief Executive Officer of DAE, described the completion as another major step in the company’s expansion strategy.
“With a track record of successful transformational acquisitions, the closing of MAF marks another milestone on our journey. Our current fleet size makes us the third largest lessor globally, both by fleet value and number of owned and managed aircraft,” Tarapore said.
He added that DAE had positioned itself as “a global leader in fleet solutions for our airline customers,” offering “high quality, competitive solutions” supported by recently announced initiatives with Blackstone and Neuberger. According to Tarapore, these initiatives enable DAE to provide “a compelling offering across fleet lifecycles.”
The acquisition also strengthens DAE’s existing relationships with major aircraft manufacturers.
“This transaction also allows us to deepen our long-standing relationships with Boeing and Airbus. Delivery slots on our orderbook now extend into the 2030s, giving us the flexibility to better support our airline customers’ fleet requirements,” Tarapore said.
The company expects the enlarged platform to broaden its airline customer base. The transaction is set to bring new airline customers into DAE Capital while also allowing DAE to expand relationships with carriers that it already serves.
“We are excited to both welcome new airline customers to DAE Capital and expand our relationship with current airline customers as part of the transaction, and we look forward to building on the strengths of the combined business,” Tarapore said.
The enlarged fleet and extended orderbook further strengthen DAE’s position in the aircraft leasing market. Through its aviation finance business, DAE leases aircraft to airlines, allowing carriers to expand or renew their fleets without having to purchase every aircraft directly.
The combined owned, managed and committed fleet serves more than 175 airlines in over 75 countries. The publication also highlighted that the approximately $9 billion enterprise value reflects changes to MAF’s fleet during the period between the original announcement of the transaction and its completion.
The acquisition is also expected to expand DAE Capital’s customer base while strengthening its relationships with aircraft manufacturers. Gulf News reported that the company’s delivery positions now stretch into the 2030s, giving it additional capacity to respond to airline fleet requirements in the coming years.
DAE said its fleet services are further supported by recently announced initiatives with Blackstone and Neuberger, which cover different stages of an aircraft’s operating lifecycle.
The transaction was originally announced in February 2026. DAE said it was advised by Allen Overy Shearman Sterling LLP and KPMG during the transaction.
With the acquisition completed, DAE Capital now has an owned, managed and committed fleet of approximately 1,000 Airbus, ATR and Boeing aircraft with a fleet value of about US$35 billion.
DAE, headquartered in Dubai, operates through two divisions, DAE Capital and DAE Engineering. The company serves more than 200 airline customers in over 80 countries from eight offices located in Dubai, Dublin, London, Amman, Singapore, Miami, Seattle and San Francisco.
DAE Engineering provides regional maintenance, repair and overhaul (MRO) services to customers across Europe, the Middle East, Africa and South Asia from its facility in Amman, Jordan. The facility can accommodate up to 24 widebody and narrowbody aircraft. The division is authorised to work on 16 aircraft types and holds regulatory approvals from more than 30 regulators worldwide.
