Macquarie Asset Management has sold Macquarie AirFinance (MAF) to global aviation services specialist Dubai Aerospace Enterprise (DAE), for an approximate enterprise value of US$7bn (€5.9bn).
Established in 2006, MAF has grown into a leading global aircraft leasing platform managing a portfolio of 352 commercial aircraft, including current orders, spanning 48 countries.
DAE said the combined company would have a pro forma fleet of 1,029 owned, managed and committed aircraft and would serve 191 airline customers in 79 countries.
The transaction will deliver 37 new airline customers, including airline customers in 7 new country exposures, to the company’s portfolio, according to DAE.
The UAE investor said the transaction would be funded with a combination of debt and equity.
Khalifa AlDaboos, managing director of DAE, said: “This transaction continues DAE’s tradition of acquiring established platforms and fleets that are franchise-enhancing in nature and represent exceptional shareholder value.”
Firoz Tarapore, chief executive officer of DAE, added: “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.”
Peter Glaser, global head of credit & insurance, Macquarie Asset Management, said: “Macquarie AirFinance’s strong position in the global aircraft leasing market reflects Macquarie Asset Management’s long-standing expertise in the sector and its ability to develop and invest in the platforms it manages.”
Macquarie said it remained committed to the aviation sector as part of its broader asset-based finance investment strategy.
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