Dubai Aerospace Enterprise (DAE) has officially completed its acquisition of Nordic Aviation Capital (NAC), including all its consolidated subsidiaries, from NAC Holdings Limited. The deal, which was first announced in January 2025, has an enterprise value of approximately US$2 billion and significantly expands DAE’s global footprint in the aircraft leasing industry.
Following the acquisition, DAE’s total fleet now stands at around 750 aircraft, including owned, managed and committed aircraft. Of these, approximately 650 are owned or managed and currently leased to 161 airline customers across 74 countries. The company also holds commitments to acquire a further 100 aircraft from major manufacturers including Boeing, Airbus and ATR, as well as from trading partners.
Firoz Tarapore, Chief Executive Officer of DAE, noted that the enlarged fleet now makes DAE the third-largest aircraft lessor globally by aircraft count. He welcomed NAC’s clients into the DAE family and expressed appreciation for the contributions made by the Nordic Aviation Capital team over its 35-year history. He also acknowledged the leadership of NAC Chairman Yadin Rosov and CEO Norm Liu, praising their professionalism and commitment during the acquisition process.
DAE was advised by legal firm Allen Overy Shearman Sterling LLP and consulting firm KPMG throughout the transaction. The acquisition represents a major step in DAE’s continued global expansion and strategic growth in the aircraft leasing market.
