Dubai Aerospace Completes AWAS Acquisition
Dubai Aerospace Enterprise (DAE) has completed the acquisition of Dublin-based aircraft lessor AWAS in a deal that will more than triple the size of the company's fleet.
DAE announced in April that it would acquire the AWAS group of companies from private equity investors Terra Firma Capital Partners and the Canadian Pension Plan Investment Board. Terms of the transaction were not disclosed.
The enlarged company’s aircraft leasing business will be known as DAE Capital.
“This acquisition of the best-in-class AWAS platform provides DAE with an enhanced market position,” chief executive Firoz Tarapore said. “The senior management team, representing the best of AWAS and DAE, is now in place and focusing on the seamless integration of the businesses.”
DAE Capital has a fleet of just under 400 aircraft, on an owned, managed and committed basis. The fleet is valued at over USD$14 billion. DAE has 117 airline customers in 57 countries.