Dubai Aerospace Enterprise buys AWAS group

Dubai Aerospace Enterprise (DAE) has completed the previously announced acquisition of the AWAS group of companies. The move expands DAE fleet to approximately 400 aircraft, valued of over $14 billion, making DAE one of the top 10 of global aircraft lessors.

“This acquisition of the best-in-class AWAS platform provides DAE with an enhanced market position,” said Firoz Tarapore, CEO of DAE. “This combined with our capital strength and our committed long-term ownership will allow us to provide a more comprehensive range of aviation fleet and financing solutions to our clients across the globe. 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 will now conduct its aircraft leasing business using the DAE Capital brand name. Its full service capability is now expanded to 117 airline customers in 57 countries from offices in Dubai, Dublin, Singapore, Miami, Bellevue and New York.

ENDS