AWAS orders 100 Airbus jets worth $6.9bn

AWAS, a second-tier aircraft lessor has
announced an order for up to 100 new narrowbody aircraft from
Airbus. The deal, valued at US$6.9bn at catalogue prices, will see
AWAS take ownership of 75 new aircraft from the A320 family with an
option to increase that number by another 25 units.

The latest deal places AWAS further up the ranks of aircraft
lessors in terms of portfolio size. Stalwarts, International Lease
Finance Corp and GE Commercial Aviation Services make up two of the
largest lessors in the industry.

“Consistent with our long term strategy, this deal further
diversifies our fleet and allows AWAS to meet current and future
demand from our customers for highly fuel efficient and
environmentally friendly aircraft,” AWAS President and Chief
Executive Franklin Pray said

“We have successfully doubled the size of our company in 2007
and this deal announcement is further confirmation of our prime
position in the industry.” 

In recent years, the aircraft leasing business has seen an
influx of capital with a number of mergers and acquisitions,
spawning new and larger players in the market.

AWAS today has become the world’s third largest aircraft leasing
company after owner, Terra Firma Capital Partners, a British
private-equity firm, merged the company with Pegasus Aviation
Finance Company last June.