06 Jun 2025
#1 June 2025: Irish Aircraft Leasing Newsletter
DAE Completes $2.0 Billion Acquisition of Nordic Aviation Capital
Dubai Aerospace Enterprise (DAE) has completed the acquisition of 100% of Nordic Aviation Capital (NAC) and its subsidiaries from NAC Holdings Limited. The deal is valued at approximately $2 billion. With this transaction, DAE’s fleet now comprises around 750 owned, managed, and committed aircraft. Of these, 650 are owned and managed aircraft currently on lease to 161 airlines across 74 countries. DAE also holds commitments to acquire about 100 aircraft from Boeing, Airbus, ATR, and trading counterparties.
DAE CEO Firoz Tarapore said, “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. It also deepens our relationships with OEMs across a broader range of aircraft types. We welcome NAC’s airline clients and commend NAC’s leadership and staff for their professionalism and commitment throughout this process.”
Drukair Signs LOI with SMBC Aviation Capital for New Airbus A320neo Lease
Drukair has signed a Letter of Intent (LOI) with SMBC Aviation Capital to lease a new Airbus A320neo. The selection of SMBC followed an extensive evaluation process, with Drukair citing the lessor’s competitive and reliable lease terms. The agreement aligns with the airline’s goals around operational efficiency, sustainability, and timely aircraft induction.
Jackson Square Aviation Champions Sustainable Innovation
Jackson Square Aviation (JSA) participated in the Sustainable Aviation Futures Congress, contributing to industry-wide discussions on decarbonisation. JSA co-hosted a plenary session titled “Scaling the SAF market with Book-and-Claim: lessons from aircraft leasing” with Future Energy Global (FEG). The panel featured JSA President and CCO Chris Dailey and FEG CEO Natasha Mann, highlighting the importance of SAF financing pathways.
Chris Dailey remarked, “At Jackson Square Aviation, we view sustainability not just as an aspiration but as integral to the long-term success of our business and the wider aviation industry. We believe that by creatively applying the principles of aircraft financing, particularly through mechanisms like Book and Claim, lessors can play a pivotal role in bridging the gap between SAF production and airline demand.”
Acumen’s Take
On DAE’s Acquisition of NAC
This transaction cements DAE’s position as a top-tier global lessor with enhanced regional reach and scale in the turboprop segment. The integration of NAC’s established airline relationships and asset portfolio gives DAE strategic leverage in regional fleet markets while improving its standing with OEMs across both narrowbody and regional aircraft types. The deal also demonstrates growing consolidation among lessors aiming to achieve capital efficiency and scale-driven competitiveness.
On Drukair’s A320neo LOI with SMBC Aviation Capital
This agreement reflects SMBC Aviation Capital’s continued strength in placing next-generation narrowbody aircraft with niche regional carriers. For Drukair, the addition of an A320neo supports modernisation efforts and reinforces its network reliability and environmental goals. Selecting SMBC based on competitive lease terms also underlines the increasing focus on value-driven procurement in emerging markets.
On JSA’s SAF Advocacy at Sustainable Aviation Futures Congress
Jackson Square Aviation’s leadership in SAF discourse through platforms like Book-and-Claim signals a broader shift in lessor engagement with decarbonisation. As regulators and investors push for ESG alignment, JSA’s positioning illustrates how financial innovation can support sustainable aviation transitions. The partnership with FEG also highlights the growing intersection between capital markets and clean energy strategies within aviation finance.
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