Dubai Aerospace Enterprise (DAE) has signed a definitive agreement to acquire 100% of the Nordic Aviation Capital (NAC) group of companies, an aircraft leasing company with over 30 years of operations. Terms of the transaction were not disclosed.
As of September 2024, NAC’s fleet consisted of 252 owned and committed assets on lease to approximately 60 airline customers in 40 countries.
Following the acquisition, DAE Capital’s pro forma fleet will include approximately 750 owned, managed, and committed aircraft valued at $22 billion, leased to around 170 airline customers in 70 countries.
The transaction will be funded by internal resources and committed debt financing. DAE’s financial metrics will remain consistent with its credit ratings. The transaction is subject to regulatory approvals and approval by NAC Holdings Limited shareholders and is expected to close in the first half of 2025.
