Dubai Aerospace completes $9bn acquisition of Macquarie AirFinance, creating 1,000‑plane lessor
Dubai Aerospace completes $9bn takeover of Macquarie AirFinance, creating a 1,000‑aircraft lessor serving 175+ airlines while expanding its orderbook and partnerships.
Dubai Aerospace has completed the $9 billion acquisition of Macquarie AirFinance, creating a combined lessor with a fleet of roughly 1,000 aircraft and contractual ties to more than 175 airlines. The deal, announced in February 2026 and finalised today, brings the fleet value and aircraft count that position Dubai Aerospace among the world’s largest aircraft lessors. Company statements say the transaction includes adjustments for fleet changes between announcement and closing.
Deal completion and headline terms
The transaction saw Dubai Aerospace acquire the entire issued share capital of Macquarie AirFinance and its consolidated subsidiaries for about $9 billion (AED 33 billion), inclusive of fleet movements that occurred between the public announcement and closing. Company officials confirmed the price reflects the cumulative effect of aircraft deliveries, redeliveries and market movements during the transaction period. The purchase marks one of the largest consolidation moves in the aircraft leasing sector this year.
Combined fleet scale and market position
Following completion, Dubai Aerospace owns and manages a fleet of approximately 1,000 aircraft, a scale that the company says elevates it to the position of the third‑largest aircraft lessor globally by fleet value and number of aircraft. The expanded portfolio spans narrow‑body, wide‑body and regional types and brings a more diversified mix of lease maturities and credit exposure. Management highlighted that the enlarged fleet enhances global reach and scale economies across asset management, trading and end‑of‑lease activities.
Customer footprint and leasing operations
The combined business leases aircraft to more than 175 airlines across over 75 countries, broadening Dubai Aerospace’s customer base across established and fast‑growing markets. Executives said the enlarged lessee roster will allow the company to tailor lease structures to airline lifecycle needs, from short‑term operating leases to longer financing arrangements. The company’s commercial teams expect the greater geographical and airline diversity to improve revenue resilience and reduce concentration risk.
Orderbook, manufacturer relations and delivery schedule
Dubai Aerospace inherited contractual purchase commitments for roughly 150 aircraft from major manufacturers including Boeing, Airbus and ATR, according to the company. The firm said deliveries against its orderbook now extend into the 2030s, giving it longer runway to match new deliveries with customer demand and fleet renewal programmes. Management emphasised that deeper ties with manufacturers will support supply chain visibility and provide flexibility in meeting airline replacement and capacity plans.
Strategic financing partners and product offering
Executives noted the deal is complemented by strategic arrangements announced earlier with Blackstone Credit & Insurance and Neuberger’s specialist finance arm, enabling a broader suite of financing and risk‑transfer solutions for customers. Dubai Aerospace said these partnerships strengthen its ability to offer integrated fleet financing, insurance‑backed structures and trade solutions across the aircraft lifecycle. The combined proposition is intended to make the firm more competitive in tailoring capital‑efficient transactions for carriers and investors.
Leadership comments and integration plans
Firoz Tarapore, chief executive of Dubai Aerospace, described the acquisition as a milestone that cements the company’s status as a leading global lessor and provider of fleet solutions. He said the transaction builds on a track record of strategic acquisitions and that management intends to combine the strengths of the merged entities to deliver higher quality services to airline customers. Tarapore added that the business will focus on seamless integration of operations, systems and teams while preserving service continuity for existing lessees.
Advisors, regulatory timeline and next steps
Legal and financial advisors to Dubai Aerospace on the transaction included Allen & Overy, Shearman & Sterling LLP and KPMG, the company confirmed. The acquisition process, first disclosed publicly in February 2026, progressed through customary regulatory approvals and closing conditions before completion. Company executives said the immediate priorities are operational integration, harmonisation of asset management practices and leveraging the enlarged scale to pursue targeted commercial opportunities.
The acquisition reshapes the competitive landscape in aircraft leasing by combining two substantial lessor platforms under a single owner and creating enhanced capacity to serve airline clients worldwide. Management says it will continue to explore complementary growth opportunities while managing fleet exposure and maintaining access to diversified capital sources to support future deliveries and trading activity.