DAE Signs Agreement to Acquire Nordic Aviation Capital

Photo: Dubai Government Media Office

Dubai Aerospace Enterprise (DAE) Ltd, known as DAE, has announced that it has signed a definitive agreement to acquire 100% of Nordic Aviation Capital (NAC), a well-established aircraft leasing company. NAC has been operating for more than 30 years. However, the terms of the deal have not been disclosed.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel 

As of September 2024, NAC’s fleet included 252 owned and committed aircraft, which are leased to about 60 airline customers in nearly 40 countries around the world.
After this acquisition, DAE Capital’s fleet will grow to approximately 750 aircraft, combining owned, managed, and committed planes. These aircraft will have an estimated total value of about US$22 billion and will be leased to around 170 airline customers in around 70 countries.

Firoz Tarapore, the CEO of DAE, expressed his excitement about the deal, saying, “We are thrilled to welcome NAC’s expertise, market presence, and talented team to our platform. This deal will help us offer better and more affordable solutions to a larger number of customers.”

The deal will be funded through DAE’s internal resources and secured debt financing. DAE's financial position will remain strong and within the credit rating limits. The transaction still requires approval from the relevant regulatory authorities and shareholders of NAC Holdings Limited and is expected to close in the first half of 2025.
DAE received advice on the transaction from Allen & Overy Shearman Sterling LLP and KPMG.

#trending #latest #DAE #NAC #AircraftLeasing #AviationNews #BusinessAcquisition #DubaiAerospaceEnterprise #FleetExpansion #AviationIndustry #AircraftLeasingNews #AviationInvestment #FirozTarapore #NACAcquisition #GlobalAviation #AirlineCustomers #AviationFleet #AerospaceNews #FinancialTransaction #AviationGrowth #RegulatoryApproval #AircraftAssets #BusinessDevelopment #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai

The partnership also aims for strong cooperation in translation, with Emirati graduates of MBRF’s Translation Programme joining ALC’s Kalima Translation Project...Read More.

Technology is Shaping the Future of Health and Revolutionizing wellness....Read More.