FINANCIAL NEWS

Dubai Aerospace to purchase aircraft lessor AWAS

25 Apr 2017

(MENAFN) Dubai Aerospace Enterprise Ltd. is acquiring Dublin-based AWAS in an agreement that will add more than 200 planes to its fleet and more than double the size of its recent business.

Recently, AWAS is the latest asset to be sold in the fast consolidating global aircraft leasing industry whose major 50 lessors had a fleet value of USD256bn last year.

Furthermore, DAE, controlled by UAE, proclaimed that combined firm will have an owned, managed and committed fleet of 394 planes with a whole value of USD14bn.

“This acquisition of AWAS is strategically compelling and propels DAE into a top 10 aircraft leasing platform,” said DAE Managing Director.

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MENAFN2504201700450000ID1095417126

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