Dubai Aerospace Enterprise signs definitive agreement to acquire Nordic Aviation Capital
Dubai Aerospace Enterprise (DAE) signed (07-Jan-2025) a definitive agreement to acquire 100% of the Nordic Aviation Capital (NAC) group of companies. The transaction is subject to regulatory approvals and the approval of NAC Holdings' shareholders and is expected to be completed in 1H2025. The transaction will be capitalised and funded by internal resources and committed debt financing. NAC's fleet comprised 252 owned and committed assets on lease to approximately 60 airline customers in 40 countries, as of Sep-2024. On a pro forma basis, DAE Capital's fleet will comprise approximately 750 owned, managed and committed aircraft with a total value of USD22 billion on lease to 170 airline customers in 70 countries. [more - original PR]
Background ✨
Dubai Aerospace Enterprise (DAE) has been actively expanding its aircraft portfolio, with significant acquisitions and lease agreements in recent years. In 2024, it acquired 30 owned and 53 managed aircraft and signed 233 lease agreements, expanding its reach to 60 airline customers in 62 countries1. DAE's CEO Firoz Tarapore noted delivery uncertainties from Boeing, affecting near-term deliveries2. Nordic Aviation Capital (NAC) restructured its finances in 2022, reducing its debt significantly and stabilising its portfolio3.