In August, DAE Capital, the leasing division of Dubai Aerospace Enterprise, muscled into the first rank of international aircraft leasing companies when it acquired AWAS from private equity firm Terra Firma Capital Partners and the Canadian Pension Plan Investment Board for an undisclosed sum. As a result, DAE has doubled its owned, managed and committed fleet to just under 400 aircraft with a value of around $14 billion.
“Organically it would have taken us a very long period of time to get to where we needed to get to, because the definition of scale is constantly being redefined in our industry,” says Firoz Tarapore, DAE Capital’s CEO. “The AWAS sale offered us a perfect opportunity to put the two companies together and create a top tier competitor.”
The Ishka view is that DAE’s scale will provide the company with a better market position and the opportunity to price deals more competitively.
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