Dubai Aerospace Enterprise (DAE) recently announced the signing of a definitive agreement to acquire 100% of the Nordic Aviation Capital group of companies, an aircraft leasing company formed over 30 years ago. Terms of the transaction were not disclosed.
As of September 2024, NAC’s fleet comprised of 252 owned and committed assets on lease to approximately 60 airline customers in approximately 40 countries.
On a pro forma basis, DAE Capital’s fleet will comprise of approximately 750 owned, managed and committed aircraft with a total value of approximately US$ 22bn on lease to approximately 170 airline customers in approximately 70 countries.
“We are pleased 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,” commented Firoz Tarapore, Chief Executive Officer, DAE.
