Yesterday, Dubai Aerospace Enterprise (DAE) announced the signing of a final agreement to acquire 100% of the Nordic Aviation Capital (NAC) group of companies, which has been operating in the aircraft leasing sector for more than 30 years.
According to September 2024 data, Nordic Aviation Capital’s fleet consists of 252 aircraft owned and on order, leased to more than 60 airlines operating in 40 countries.
On an estimated basis, DAE Capital’s fleet will include approximately 750 owned, managed and on-order aircraft with an approximate value of $22 billion leased to 170 airlines in 70 countries.
DAE CEO, Firoz Tarapore, said: “This acquisition represents a strategic step that allows us to provide more cost-efficient solutions to a broader base of customers.”
The deal will be capitalized and financed through internal resources in parallel with the debt financing that has been committed, so the metrics associated with the financial loans and financing operations that belong to DAE will remain comfortably within the levels that are consistent with DAE’s credit ratings.
The deal is subject to the required regulatory approvals and the approval of Nordic Aviation Capital’s shareholders, noting that the deal is expected to be completed in the first half of 2025.
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