Headquartered in Dubai, Dubai Aerospace Enterprise (DAE) Ltd. (“DAE” or “the company”) is a global aviation services company with two divisions: DAE Capital, a leading aircraft leasing platform (representing the majority of total revenue), and DAE Engineering, which consists of an 80% ownership stake in Jordan Aircraft Maintenance Co. Limited (‘‘Joramco’’), a leading provider of commercial aircraft maintenance, repair and overhaul (MRO) in the Middle East. DAE is owned by Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai.
In February 2026, DAE announced that it had agreed to acquire 100% of Macquarie AirFinance Limited (“MAF”) for an approximate enterprise value of $7 billion. DAE will have a pro forma fleet of 1,029 owned, managed and committed aircraft (up from 678 at December 30, 2025 (YE25)). The transaction is expected to close in the second half of 2026.
Key Credit Considerations
The…
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