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Philippines Clears Dubai Aerospace Deal with Nordic Aviation Capital

Aviation and Aerospace

Business Honor
27 May, 2025

PCC approves Dubai Aerospace's acquisition of Nordic Aviation, citing no major competition concerns.

Dubai Aerospace Enterprise Ltd.'s proposed acquisition of Nordic Aviation Capital has been approved by the Philippine Competition Commission (PCC), which has declared that the transaction won't hurt competition in the local market.

After both companies submitted their proposals the PCC launched a Phase 1 review on March 20 to assess whether the merger could reduce market competition. The PCC announced its decision, concluding that the acquisition would not significantly affect the industry due to the companies’ small market shares and the presence of several other competitors.

The PCC highlighted that the global aircraft leasing industry is highly dynamic, making it open for new players and competition. This helped support the decision to approve the merger without further investigation.

Owned by the Investment Corporation of Dubai, the primary investment entity of the government, Dubai Aerospace is headquartered in the United Arab Emirates. In contrast, Nordic Aviation Capital (NAC) is a company established in Ireland that is controlled by NAC Holdings Limited and supported by financial groups, asset managers and insurance companies. Both companies are major players in the dry leasing of aircraft, a common practice where aircraft are leased without crew or maintenance, mainly to airlines around the world.

With this approval the deal can move forward in supporting continued growth in the aircraft leasing sector a key part of the global aviation industry. The PCC’s decision shows its commitment to allowing business growth while ensuring fair competition in the aviation and aerospace markets.