Dubai Aerospace Enterprise Expands with Nordic Aviation Capital Acquisition

Dubai Aerospace Enterprise (DAE) has reached a definitive agreement to acquire 100% of the shares of Nordic Aviation Capital (NAC), marking a significant step in the ongoing consolidation within the aircraft leasing industry. NAC owns 252 assets leased to approximately 60 airlines across 40 countries. Post-acquisition, DAE's total fleet is expected to include around 750 aircraft valued at approximately $22 billion, serving about 170 airline customers in 70 countries. The financial structure of the deal will rely on DAE’s internal resources and committed debt financing to maintain its creditworthiness. The transaction, subject to regulatory and shareholder approvals, is expected to finalize within the first half of the year. DAE also announced a series of transactions throughout 2024, acquiring at least 33 aircraft from diverse vendors, which include next-generation narrowbody aircraft. This strategic maneuver aligns with the broader trend of consolidation in the aircraft leasing market, where recent notable transactions include acquisitions by Saudi Arabian PIF's AviLease and SMBC Aviation Capital.