Dubai Aerospace Enterprise (DAE) has today announced the signing of a definitive agreement to acquire 100 percent of Nordic Aviation Capital (NAC). As of September 2024, NAC’s fleet included 252 owned and committed assets on lease to 60 airlines.
On Tuesday (January 7, 2025), Dubai Aerospace Enterprise Ltd. (DAE) announced the signing of a definitive agreement to acquire 100 percent of the Nordic Aviation Capital group of companies (NAC), an aircraft lessor formed over 30 years ago. At the end of September 2024, NAC’s fleet included 252 owned and committed assets on lease to around 60 airline customers across approximately 40 countries. With the acquisition, DAE Capital’s fleet will now comprise of around 750 owned, managed, and committed aircraft valued at approximately $22 billion on lease to some 170 airline customers in nearly 70 countries.
In Monday’s announcement, DAE’s Chief Executive Officer, Firoz Tarapore, said,
“We are delighted at this opportunity to add NAC’s capabilities, complimentary market presence, and people to our platform. This transaction will allow us to provide more cost-effective solutions to a larger group of customers.”
The Nordic Aviation Capital acquisition will be capitalized and funded by internal resources and committed debt financing. The transaction remains subject to requires regulatory approvals and approval from the shareholders of NAC Holdings Limited and is expected to be completed during the first half of 2025. DAE was advised on the NAC acquisition by Allen Overy Shearman Sterling LLP and KPMG. The terms of the transaction were not disclosed.
Dubai Aerospace Enterprise (DAE) Limited is a global aviation services company headquartered in Dubai. The company serves over 170 airlines in more than 65 countries from seven offices in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle. DAE’s award-winning Aircraft Leasing division has an owned, managed, committed and mandated to manage fleet of approximately 500 Airbus, ATR and Boeing aircraft valued at US $18 billion. The company’s Engineering division serves customers in Europe, the Middle East, Africa and Asia from their state-of-the-art facility which can accommodate up to 17 widebody and single aisle aircraft. DAE is authorized to work on 15 aircraft types and has regulatory approval from over 25 global regulators.
Source: Dubai Aerospace Enterprise Ltd. (DAE)