Dubai Aerospace Enterprise (DAE) is examining alternative aircraft lessors for acquisition, among them Pegasus Aviation, after its unsuccessful attempt to buy Singapore Aircraft Leasing Enterprise (SALE).
Pegasus, which is backed by Los Angeles-based Oaktree Capital Management, manages a fleet of more than 200 Airbus and Boeing aircraft.
The San Francisco-based lessor is among the customers for the Boeing 787 and the company's portfolio also includes freighters.
A source familiar with the situation says that DAE, which is aggressively developing a presence in several commercial aviation sectors, is studying the acquisition of Pegasus. But the source points out that Pegasus is only an option and it is too early to say whether DAE will pursue an acquisition.
DAE was established in February and aircraft leasing, through its DAE Capital division, is one of its strategic ambitions. It declines to comment on its interest in specific operations, saying only that it has already undertaken "significant investment" to fulfil its objectives, including participation in a consortium to take over maintenance company SR Technics.
Neither Pegasus nor Oaktree Capital Management could be contacted to comment. DAE had been among those aiming to buy Asian-based lessor SALE before it was sold to a subsidiary of the Bank of China.
Source: Flight International
