Dubai Aerospace Enterprise (DAE) has completed the previously announced acquisition of the Awas group of companies, a global leader in commercial aircraft leasing, propelling DAE into the top tier of global aircraft lessors.

DAE will now conduct its aircraft leasing business using the DAE Capital brand name.

DAE Capital now features an owned, managed and committed fleet of approximately 400 aircraft with a value of over $14 billion; full service capability to 117 airline customers in 57 countries from offices in Dubai, Dublin, Singapore, Miami, Bellevue and New York; and over three decades of experience in the global leasing market.

DAE chief executive officer Firoz Tarapore said: “This acquisition of the best-in-class Awas platform provides DAE with an enhanced market position. 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.” – TradeArabia News Service