Nordic Aviation Capital (NAC) has secured shareholder approval for its acquisition by Dubai Aerospace Enterprise (DAE), with over 85% of shareholders voting in favour of the transaction.

The lessor says it will acquire 100% of its outstanding share capital in a deal valued at more than $2 billion, including outstanding debt.
Subject to regulatory approvals and customary closing conditions, the transaction is expected to complete in the first half of 2025.
Goldman Sachs International and Deutsche Bank will serve as financial advisors to NAC, while Clifford Chance and KPMG Deal Advisory will provide legal and accounting services respectively.

NAC president Norm Liu states: “We are pleased that shareholder approval has been received to sell the firm to DAE, a top global aircraft lessor. Our significant reshaping of the fleet plus substantial reduction of debt markedly enhanced our acquisition prospects. We appreciate the ongoing support from our business partners and team members during this transition.”

As of December 2024, NAC’s portfolio consisted of 233 owned and committed aircraft leased to approximately 60 customers across 40 countries. The company, which specialises in regional aircraft leasing, has expanded its operations to include larger narrowbody aircraft.

Niall O Keefe