DAE Capital (Dubai Aerospace Enterprise) is reportedly close to finalizing an agreement to take control of Irish leasing company Macquarie AirFinance, according to two industry sources quoted by Reuters.

At this stage, neither of the parties involved has issued an official statement detailing the terms and conditions, the exact scope of the transaction, or a timetable for its eventual completion.

Back in January, DAE was one of the potential candidates to take over Macquarie AirFinance’s assets, alongside Saudi leasing company AviLease (backed by the PIF) and Qatari bank Lesha Bank.

Should the deal be confirmed, it would enable DAE to consolidate its position in the market of leading commercial aircraft lessors (already strengthened by the acquisition of AWAS in 2017 and NAC last year).

Macquarie AirFinance was founded in 2006 and is owned by Macquarie Asset Management (50%), PGGM Infrastructure Fund (25%) and Australian Retirement Trust (25%). Its portfolio comprises more than 200 Airbus and Boeing aircraft, with commitments on over 150 others.