DAE Capital

The steady consolidation of the aircraft leasing market continued as Dubai Aerospace Enterprise announced that it will acquire Nordic Aviation Capital (NAC).

Joramco owner DAE said the Jordanian MRO provider contributed significantly to overall revenue group.

Lessor Dubai Aerospace Enterprise has received a further tranche of funds relating to aircraft over which it lost control following Russia's invasion of Ukraine

Two major lessors posted strong profits on the back of strong demand for aircraft in recent months driven, at least in part, by production and delivery delays.

While lessors have done well with lease rates surging, disrupted supply chains and other issues make normal business, let alone growth, complicated to manage.

Dubai Aerospace Enterprise (DAE) has bought a portfolio of 23 aircraft, including 17 from China Aircraft Leasing Group Holdings.

Lessors around the world completed a series of financing deals in recent days.

DAE said the cash settlement came from Aeroflot’s Russian insurance company NSK and that it was “in full compliance” with all applicable sanctions.