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Dubai firm completes acquisition of Awas Group

by August 20, 2017 General

DUBAI, Aug. 20 (Xinhua) — Dubai Aerospace Enterprise (DAE)announced Sunday in an e-mailed statement the completion of itsacquisition of the Awas Group, the world’s leading aircraft leasingcompany.

According to a statement issued by the company, “DAE willoperate in the leasing of aircraft under the name of DAE Capitalwithin the fleet of aircraft owned and managed and demand,including about 400 aircraft with a total value of more than $14billion.”

The airline will serve more than 117 airline customers in morethan 57 countries through offices in Dubai, Dublin, Singapore,Miami, Bellevue and New York.

“This acquisition will provide a comprehensive range offinancing and leasing solutions for customers around the world,”said Fayrouz Tarapur, CEO of DAE. Enditem