The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI/WAM
Dubai Aerospace Enterprise (DAE) Ltd today announced that it had completed the previously announced acquisition of 100% of the outstanding share capital of Nordic Aviation Capital Designated Activity Company and its consolidated subsidiaries (“NAC” or “Nordic Aviation Capital”) from NAC Holdings Limited. The enterprise value is approximately US$2 billion.
DAE now has a fleet of approximately 750 owned, managed and committed aircraft. The owned and managed fleet of approximately 650 aircraft is on lease to 161 airlines in 74 countries. In addition, DAE has commitments to acquire approximately 100 aircraft from Boeing, Airbus, ATR, and trading counterparties.
Firoz Tarapore, Chief Executive Officer of DAE, commented, “Our fleet of 650 owned and managed aircraft now makes us the 3rd largest aircraft lessor globally by number of aircraft. 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. This transaction also offers us the opportunity to deepen our relationship with the OEMs across a broader range of aircraft types.”