A&O Shearman advises Dubai Aerospace Enterprise (DAE) Ltd on its acquisition of Nordic Aviation Capital group

Dubai Aerospace Enterprise (DAE) Ltd is one of the world’s largest aircraft leasing companies based in Dubai. This acquisition will propel DAE’s growth in the market, resulting in a combined platform comprising of 750 owned, managed and committed aircraft with a total value of approximately USD22bn on lease to approximately 170 airline customers in approximately 70 countries.

Headquartered in Ireland, the Nordic Aviation Capital group is a well-established aircraft leasing company which was founded over 30 years ago and has offices in Singapore, Denmark, Dubai and Toronto. As of December 2024, NAC’s fleet comprised of 233 owned and committed aircraft on lease to approximately 60 customers in 40 countries.

Over 85% of the shareholders voted in favour of the transaction.

The A&O Shearman team was led by partners Paul Nelson and Hugh Robinson, with support from senior associates Preethi Correa, Evgenia Erakhtina and Andrew Page, associates Paul McKay, Kabir Singh Randeva, Rosalind Roberts and Alexander Manthopoulos, trainees Tommy Halpin-Kelly, Vincent Lafortune and Ali Muminoglu and solicitor apprentice Jack Muxlow. Anti-trust / FDI advice was provided by partner Pieter Huizing, senior associate Jochem de Kok and associates Pauline Van Sande and Bernadette van der Blij. Litigation advice was provided by partner Eve Giles and Yacine Francis, senior associates Robin Marshall and Angus Ryan and associate Naina Pagarani. Tax advice was provided by partner Chris Harrison and counsel Gareth Banfield. Sanctions advice was provided by partner Matthew Townsend, associate Gauthier Jacqmin and trainee Emma Short.