AWAS finalises €700m Airbus deal

AWAS has finalised a $1.2 billion (€0.7bn) deal for the purchase of six Airbus A330-300 aircraft.

The Dublin-based firm, which is one of the world’s largest aircraft leasers, will lease the aircraft to Singapore Airlines, with the first of the new aircraft being delivered next year.

AWAS president and chief executive Franklin Pray said: “This is a significant transaction as it is a follow-on from the order of up to 100 new A320 single aisle aircraft from Airbus in January. It reflects our goal to further diversify our aircraft portfolio and broaden the appeal to our airline customers.

“We are also delighted to be working with Singapore Airlines who have a significant international profile and who will use these aircraft to service regional routes from its Singapore base.

“In line with our conservative growth strategy, financing for the aircraft has already been committed by two syndicates led by DVB Bank AG, KfW IPEX-Bank and HSH Nordbank AG.”

In January, AWAS announced it has agreed a deal to buy up to 100 new aircraft from Airbus for a maximum consideration of $6.9bn. This latest transaction has been valued to Airbus at $1.2bn.

AWAS, which is ultimately owned by the European private equity firm Terra Firma, will take ownership of 75 Airbus A320 aircraft over the next few years.

The company is ranked in the top three aircraft leasing players in the world and counts the likes of Air France-KLM, American Airlines, Cathay Pacific, SAS, BMI, Air Asia and Alitalia as clients.

The aircraft portfolio is on lease to over 100 airline customers in 45 countries.

The company is headquartered in Dublin, with offices in New York, Miami, and Singapore.