DUBAI: Dubai Aerospace Enterprise said on Thursday it will buy aircraft leasing firm Macquarie AirFinance for an enterprise value of about $7 billion, creating a combined fleet of 1,029 planes and one of the world’s biggest lessors.
The sale, which followed a competitive bidding process, underscores strong investor appetite for aircraft assets as Boeing and Airbus struggle to ramp up production to meet airline demand.
The global aircraft leasing market is dominated by AerCap Holdings N.V. and SMBC Aviation Capital, both based in Ireland.
The Macquarie AirFinance deal would lift DAE into the top tier, analysts said.
“(It) ... fast tracks Dubai Aerospace Enterprise to the forefront of global aircraft leasing,” said Tim Waterer, chief market analyst at KCM Trade, adding that the deal also diversifies the Dubai state-owned lessor’s customer base and increases exposure to newer aircraft, even as supply constraints at major manufacturers persist.
