Dubai Aerospace Enterprise (DAE) has completed its acquisition of Nordic Aviation Capital (NAC), the company announced on Wednesday.
The transaction, which was first revealed in January 2025, involves the purchase of 100 per cent of NAC’s outstanding share capital from NAC Holdings Limited for an enterprise value of approximately $2 billion.
Dubai Aerospace Enterprise expands global fleet
The acquisition positions DAE as the third-largest aircraft lessor globally by fleet size, with approximately 750 owned, managed, and committed aircraft.
The company’s owned and managed fleet now consists of approximately 650 aircraft on lease to 161 airlines across 74 countries.
Additionally, Dubai Aerospace Enterprise has commitments to acquire approximately 100 aircraft from manufacturers, including Boeing, Airbus, ATR, and trading counterparties.
Firoz Tarapore, Chief Executive Officer of Dubai Aerospace Enterprise, said: “Our fleet of 650 owned and managed aircraft now makes us the 3rd largest aircraft lessor globally by number of aircraft. This transaction augments our position as a global leader in aircraft leasing and enhances our ability to offer more cost-effective solutions to our current and prospective clients. This transaction also offers us the opportunity to deepen our relationship with the OEMs across a broader range of aircraft types.”
In his statement, Tarapore thanked those involved in NAC’s development since its founding 35 years ago, specifically acknowledging NAC’s Chairman Yadin Rosov and Chief Executive Officer Norm Liu “for their professionalism, dedication and commitment to success throughout this process.”
DAE received advisory services from Allen Overy Shearman Sterling LLP and KPMG for the transaction.
The company noted that forward-looking statements in the announcement reflect current expectations and involve known and unknown risks regarding future events, results, or outcomes, which may differ from those anticipated due to factors beyond DAE’s control.
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