Dubai Aerospace Enterprise (DAE) Ltd has announced its intention to fully acquire the Nordic Aviation Capital group of companies, a respected player in the aircraft leasing sector with over 30 years of operations. The specifics of the acquisition deal have not been disclosed.

As of September 2024, Nordic Aviation Capital’s fleet included 252 leased assets, serving approximately 60 airline customers across around 40 nations.

Post-acquisition, the total number of aircraft within DAE Capital will rise to about 750, valued at nearly $22 billion, with services extended to around 170 airline customers in approximately 70 countries.

Firoz Tarapore, CEO of DAE, expressed enthusiasm for this acquisition, indicating it will enhance their market presence and improve service provisions to a wider customer base. The acquisition will be funded through internal resources and secured debt, ensuring it aligns with DAE’s credit ratings.

The completion of this transaction is pending regulatory approvals and the endorsement of NAC Holdings Limited shareholders and is projected for the first half of 2025.