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DAE almost trebles fleet with Irish acquisition

Posted 24 April 2017 · Add Comment

Dubai Aerospace Enterprise (DAE) is to take over the Dublin-based AWAS aircraft leasing group from Terra Firma Capital Partners, a UK-based private equity firm, and the Canadian Pension Plan Investment Board.

The acquisition gives the Dubai lessor a significant boost almost trebling its aircraft fleet. The deal is believed to be financed by DAE’s own resources and committed debt financing, and is expected to be completed in the third quarter of this year once the necessary regulatory approvals are received..
The combined company will have an owned, managed and committed fleet of 394 aircraft with a total value of more than US$14 billion. It will serve over 110 airline customers in over 55 countries from offices in Dubai, Ireland, Singapore and the United States.
"This acquisition is strategically compelling and propels DAE into a top 10 aircraft leasing platform," said Khalifa Al Daboos, DAE’s managing director.
AWAS has a fleet of 263 aircraft on its books including 23 new aircraft due to be delivered before the end of next year.

 

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