"NCP Denmark initiates actual investigation in complaint from Justice For Myanmar against Nordic Aviation Capital", May 2025

…, NCP Denmark received a complaint regarding Nordic Aviation Capital (NAC) from Justice For Myanmar. Justice For Myanmar is of the opinion that NAC has failed to fulfil its obligations to carry out risk-based due diligence under the OECD Guidelines for Multinational Enterprises in relation to sale, leasing and financing of ATR-aircrafts through NAC-subsidiaries to buyers in Myanmar, including Air KBZ (now Air Mingalar). Justice For Myanmar alleges that, in the ongoing armed conflict in Myanmar, the sale, leasing and financing of ATR-aircrafts have severe adverse impacts on human rights.

NAC rejects the complaint and finds the allegations without merit and unsubstantiated. NAC denies that the group has not carried out sufficient and appropriate due diligence in connection with its ongoing operations, including with respect to customers in Myanmar.

Based on the preliminary investigation, NCP Denmark cannot, at this point, dismiss that non-observance of the OECD Guidelines has taken place. The complaint is centered around the OECD Guidelines chapter II on General Policies (paragraph 11 - 14), and chapter IV on Human Rights.

NCP Denmark emphasises that the preliminary investigation does not determine whether non-observance of the OECD Guidelines has in fact taken place. NCP Denmark is handling the complaint with support from NCP Ireland, as NAC was headquartered in Ireland, by the time the complaint was submitted. NAC has since been acquired by Dubai Aerospace Enterprise (DAE). The acquisition was completed 7 May 2025.

NCP Denmark has extended an offer of mediation between the parties, which DAE has declined. Consequently, NCP Denmark accepts the complaint for further consideration.