Dubai Aerospace Enterprise (DAE) has completed its previously disclosed 100% acquisition of Nordic Aviation Capital (NAC) from NAC Holdings. The company said the enterprise value was approximately $2bn.
“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,” said DAE CEO Firoz Tarapore. “This transactions also offers us the opportunity to deepen our relationship with the OEMs across a broader range of aircraft types.”
DAE now has a fleet of around 750 owned, managed and committed aircraft. The owned and managed fleet of approximately 650 aircraft is on lease to 161 airlines in 74 countries.
“We welcome NAC's airline clients to our client family and look forward to building trusted relationships with them over time,” continued Tarapore.
DAE was advised by Allen Overy Shearman Sterling and KPMG.