The lender's Nordic Air Capital shareholders have approved the proposed acquisition of the company by the Dubai Aerospace Company.
The company values transactions at over $2 billion. This includes outstanding debts.
Nordic Aviation Capital said the shareholder vote was 85%, with DAE taking over the entire share capital.
It said it expects trading to close in the first half of this year, subject to regulatory clearance.
“In addition to a significant reshaping of the fleet, a significant reduction in debt has significantly strengthened the prospects for the acquisition,” says Norman Liu, Nordic Air's capital chief.
The lender's fleet consists of approximately 233 owned and committed aircraft at the end of last year, with the base carrying around 60 customers.
Dae Capital has a portfolio of 506 aircraft owned by 223 Boeing models and 216 Airbus jets, plus 67 ATRs, with 329 owned, with 110 and 67 committed.
