Civil Aviation
Dubai's DAE to acquire AWAS, doubling fleet
Dubai's DAE to acquire AWAS, doubling fleet

| Staff writer 237 mots

Dubai's DAE to acquire AWAS, doubling fleet

Dubai Aerospace Enterprise has announced the signing of a definitive agreement to acquire 100% of the AWAS group of companies, a global leader in aircraft leasing, from funds managed by Terra Firma Capital Partners and the Canadian Pension Plan Investment Board. Terms of the transaction were not disclosed.

AWAS is one of the world’s leading aircraft leasing companies, with a fleet of 263 owned, managed and committed narrow and wide-body aircraft, including 23 new aircraft on order to be delivered before the end of 2018.  AWAS currently serves over 85 airline customers in over 45 countries.

The combined company will have an owned, managed and committed aircraft fleet of 394 aircraft with a total value of over $14bn. It will serve over 110 airline customers in over 55 countries from offices in Dubai, Ireland, Singapore and the United States.

DAE says the transaction will be financed internal resources and committed debt financing. The transaction is subject to required regulatory approvals and is expected to be completed in the third quarter of 2017.

The deal follows DAE’s acquisition last month of a portfolio of ATR 72-600s from GE Capital Aviation Services (GECAS). That purchase brought the total number of owned and committed ATR 72-600 aircraft in DAE’s fleet to 57, making DAE one of the largest lessors of the ATR 72-600 worldwide. In addition, DAE has options with ATR for a further 20 aircraft of the same type.

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