Dubai Aerospace Enterprise (DAE) Ltd has announced the signing of a definitive agreement to acquire 100% of Nordic Aviation Capital (NAC), a leading aircraft leasing company with over 30 years of industry presence. The terms of the transaction remain undisclosed.
As of September 2024, NAC’s fleet included 252 owned and committed assets, leased to approximately 60 airline customers across 40 countries. Following the acquisition, DAE Capital’s fleet will expand significantly to approximately 750 owned, managed, and committed aircraft, valued at around $22 billion. These assets will be leased to 170 airline customers in 70 countries, solidifying DAE’s position as a global leader in the aircraft leasing sector.
Firoz Tarapore, CEO of DAE, expressed enthusiasm about the acquisition, stating,
“We are delighted at this opportunity to add NAC’s capabilities, complementary 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 acquisition will be funded through internal resources and committed debt financing, ensuring DAE’s leverage and funding metrics remain aligned with its credit ratings. Completion of the transaction is subject to regulatory approvals and NAC Holdings Limited shareholder consent. It is expected to close in the first half of 2025.
News Source: Emirates News Agency
