PCC approves Dubai Aerospace's acquisition of Nordic Aviation

The Philippine Competition Commission (PCC) has approved Dubai Aerospace Enterprise Ltd.'s acquisition of Nordic Aviation Capital.

In a statement on Monday, the PCC said the transaction would not significantly affect competition in the Philippines.

Dubai Aerospace is owned by the Investment Corporation of Dubai and Nordic Aviation by NAC Holdings Limited, with both companies involved in dry leasing aircraft.

The PCC's Mergers and Acquisitions Office (MAO) reviewed the deal starting on March 20 and concluded that it would not harm competition due to minimal market shares and existing competitors.

The MAO also highlighted the dynamic nature of the global aircraft leasing market, which encourages new entrants.

Under Philippine Competition Act provisions, the PCC reviews mergers and acquisitions to safeguard against negative impacts on competition or consumer welfare.