Dubai Aerospace Enterprise has signed agreements for $2.8 billion in new long-term revolving credit facilities, bolstering its firepower as the state-backed lessor accelerates a deal-driven expansion strategy.
The new unsecured facilities, which mature in March 2031, replace an existing $1.4 billion line and lift the company’s total revolving credit capacity to about $4 billion, according to a statement.
The package includes $2.3 billion in conventional funding and $500 million in Shari’a-compliant liquidity from a syndicate of 15 global financial institutions. Emirates NBD and First Abu Dhabi Bank acted as initial mandated lead arrangers on the conventional tranche, while Abu Dhabi Islamic Bank led the Islamic facility.
The refinancing underscores Dubai Aerospace Enterprise’s growing reliance on diversified funding sources as it scales up its fleet and global footprint. The company, owned by Investment Corporation of Dubai, has been among the most active dealmakers in the aircraft leasing industry.
Last month, it agreed to acquire Macquarie AirFinance for about $7 billion in enterprise value, a transaction set to propel it into the ranks of the world’s largest lessors with a combined fleet exceeding 1,000 aircraft. The move followed its roughly $2 billion purchase of Nordic Aviation Capital last year.
Quote:
- “By tapping both conventional and Shari’a-compliant sources of funding, this transaction underscores DAE’s exceptional access to liquidity from both our local banking partners and a globally diversified group of leading financial institutions,” said Firoz Tarapore, Chief Executive Officer of DAE.
📌 Why it matters:
Dubai Aerospace Enterprise’s expanded credit capacity strengthens its ability to fund large-scale aircraft deals at a time when global airlines are turning to leasing amid supply-chain bottlenecks and high jet prices.
📌 Bottom line:
With $4 billion in revolving capacity and back-to-back multibillion-dollar deals, DAE is positioning itself as a top-tier global lessor, and signalling more growth could be ahead.
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