DAE acquires Nordic Aviation Capital

DAE today announced the signing of a final agreement to acquire 100% of the Nordic Aviation Capital (NAC) group of companies, which has been operating in the aircraft leasing sector for more than 30 years.

According to data from September 2024, Nordic Aviation Capital’s fleet consists of 252 aircraft owned and on order, leased to more than 60 airlines operating in about 40 countries.

On an estimated basis, DAE Capital’s fleet will include approximately 750 owned, managed and on-order aircraft with an approximate value of US$22 billion leased to approximately 170 airlines in approximately 70 countries.

Firoz Tarapore, CEO of DAE, said: “This acquisition represents a strategic step that allows us to provide more cost-efficient solutions to a broader customer base.

The deal will be capitalized and financed through internal resources in parallel with the debt financing that has been committed, and thus the metrics related to the financial loans and financing operations that belong to DAE will remain comfortably within the levels that are consistent with DAE’s credit ratings.

The aforementioned deal is subject to the required regulatory approval processes as well as the approval of Nordic Aviation Capital’s shareholders, noting that the deal is expected to be completed in the first half of 2025.