DAE and Blackstone set up new aircraft leasing venture

Aircraft lessor Dubai Aerospace Enterprise (DAE) and Blackstone Credit & Insurance (BXCI), a US credit asset manager, have agreed to set up a new aircraft leasing venture.

To be named Equator, the new entity will build a diversified portfolio of commercial aircraft on lease to airlines worldwide, with a target annual deployment of $1.6 billion, the companies said in a joint statement on Thursday. 

DAE will source the assets from third parties, while its aircraft investor services unit will manage the assets owned by Equator.

Blackstone’s capital will provide a foundation to expand DAE’s third-party fleet management franchise, chief executive officer Firoz Tarapore said.

No details were given about Equator’s operating base.

BXCI, a business unit of Blackstone, will provide capital from funds managed by its partner ITE Management.

DAE, headquartered in Dubai, is one of the largest aircraft lessors globally, with almost 700 aircraft under management, from Boeing, Airbus and ATR, including more than 100 valued at over $4 billion as of December 31, 2025.

It has 17 servicing and management agreements for institutional and financial investors.

Meanwhile, BXCI’s infrastructure and asset-based credit group manages more than $100 billion as of December 31 2025.  

Last month, DAE secured new credit facilities from 15 global financial institutions, boosting liquidity to support its expansion plans.

In February the company agreed to buy Macquarie AirFinance, owned by Australia’s Macquarie Group, for an enterprise value of $7 billion.

DAE is owned by the Investment Corporation of Dubai, the principal investment arm of the Dubai government.

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