DAE acquires Irish aircraft lessor Nordic Aviation

• Fleet grows to 750 aircraft
• 170 airline customers
• Servicing 70 countries

Dubai Aerospace Enterprise, the Middle East’s largest aviation services company, has acquired aircraft leasing company Nordic Aviation Capital.

No details on the terms of the transaction were disclosed.

DAE said Nordic Aviation’s fleet in September 2024 comprised 252 owned and committed assets on lease to approximately 60 airline customers in approximately 40 countries.

Based in Ireland, Nordic Aviation – which also has offices in Singapore, Denmark, Dubai and Toronto – specialises in leasing aircraft to regional airlines.

Following the deal, DAE Capital’s fleet will have around 750 owned, managed and committed aircraft with a total value of about $22 billion on lease to approximately 170 airline customers in 70 countries.

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“We are delighted at this opportunity to add NAC’s capabilities, complementary market presence, and people to our platform. This transaction will allow us to provide more cost-effective solutions to a larger group of customers,” said Firoz Tarapore, CEO of DAE.

DAE said the deal will be financed by internal resources and committed debt financing. 

The transaction is subject to required regulatory approvals and approval of the shareholders of NAC Holdings Limited and is expected to be completed in the first half of this year.