Takeover European private equity group Terra Firma has completed its acquisition of aircraft-leasing business AWAS from investment bank Morgan Stanley. The deal covers AWAS’s portfolio of over 150 aircraft including Airbus A300s, A320s, A330s and A340s, Boeing 737s, 747s, 767s, 777s and MD-80s and Fokker 70s. “This marks the start of an exciting new era for AWAS, which is perfectly positioned to take advantage of the booming aviation sector. We believe this unique pairing of AWAS aviation expertise with the agility afforded by private equity ownership will yield outstanding results,” says AWAS vice-president of marketing Harry Forsyth. Morgan Stanley agreed in January to sell Seattle-based AWAS to Terra Firma for $2.5 billion in cash plus the assumption of liabilities.
Source: Flight International
