Subscribe Free
in Business & Finance

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.

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Baby booming…

As Saudi low-cost carrier, Flyadeal, approaches its first birthday, it is about to embark on a huge expansion programme, with a major order for new aircraft imminent. Alan Dron reports.

Emirates lands in Riyadh for National Day

Emirates yesterday operated a special one-off A380 service to Riyadh in celebration of the Kingdom of Saudi Arabia’s 88th National Day.

Oman Air supports Oman Ministry of Tourism ahead of Moscow route launch

Oman Air lent its support to the Oman Ministry of Tourism as it hosted a special Omani themed workshop aimed at promoting the Sultanate’s tourism stakeholders, to celebrate the upcoming Moscow service in October.

Emirates introduces two new ice TV channels

Emirates has launched two new ice TV channels dedicated to promoting the wide range of activities in Dubai and the UAE.

Qatar Airways GCEO tours Boeing Factory in Everett

Qatar Airways Group Chief Executive, Akbar Al Baker, toured the Boeing factory in Everett, Washington on Tuesday 18 September with Boeing Commercial Airplanes President and Chief Executive Officer, Kevin McAllister.

Qatar trains focus on huge upgrade

A major new training establishment is to be built in Qatar, as part of the support structure for the Gulf nation’s forthcoming massive build-up in military aviation assets. Alan Dron reports.

TAA SK0902311218
See us at
AIME19BTA3005120219MarrakechAirshow BT2507241018Aviation Africa BT0607280219Istanbul Airshow BT22018GATM BT1004061118Cargo BT1004091018MEBAA BT1004121218ASDubai BT1004091018BIAS BT271017161118MAPS18_BT1207131118