Dubai Aerospace to buy aircraft leasing firm AWAS

Terra Firma Capital

24/04/2017 09:17

DUBAI/SINGAPORE, April 24 (Reuters) - Dubai Aerospace 
Enterprise Ltd (DAE) announced a takeover of Dublin-based 
aircraft lessor AWAS on Monday, adding more than 200 planes to 
its fleet. 
    Dubai Aerospace said the combined company will have an 
owned, managed and committed aircraft fleet of 394 aircraft with 
a total value of more than $14 billion. 
    Details of the purchase from Terra Firma Capital Partners 
and the Canadian Pension Plan Investment Board were not 
disclosed. 
    "This acquisition of AWAS is strategically compelling and 
propels DAE into a top 10 aircraft leasing platform," DAE 
Managing Director Khalifa H. AlDaboos said in a statement from 
the company. 
    AWAS owns and manages 231 aircraft placed with more than 90 
customers in 47 countries. 
    Reuters reported in December that AWAS had been put up for 
sale in an auction that could value the lessor at $7 billion, 
including debt.  urn:newsml:reuters.com:*:nL4N1E11GM 
 
 (Reporting by Alexander Cornwell and Anshuman Daga; writing by 
Saeed Azhar; editing by Jason Neely) 
 ((Saeed.Azhar@thomsonreuters.com; +65-64035664 ; Reuters 
Messaging: saeed.azhar.reuters.com@reuters.net)) 
 
Keywords: AWAS M&A/DUBAIAEROSPACE