Dubai Aerospace Enterprise (DAE) has signed a definitive agreement to acquire 100% of the Nordic Aviation Capital group of companies (NAC), an aircraft leasing company formed over 30 years ago.
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$22 billion on lease to approximately 170 airline customers in approximately 70 countries.
“We are delighted at this opportunity to add NAC’s capabilities, complimentary market presence, and people to our platform,” said Firoz Tarapore, Chief Executive Officer of DAE. “This transaction will allow us to provide more cost-effective solutions to a larger group of customers.”
The transaction is expected to be completed in the first half of 2025.
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