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Stepping Stone
01 December 2007
The Pegasus acquisition was just the start. Awas has even bigger plans for the future, not least the expected order of aircraft that will run into 'triple digits', reports Alex Lennane.
Read more:
Pegasus
Awas
Franklin Pray
Terra Firma
The June acquisition of Pegasus might make it appear that Awas has completed its ambitions; that its new identity as the third-largest lessor is sufficient. But that is not the case. The acquisition marks just the start of Awas's launch as a major player in the leasing market. It is the first, but not the last, news story that will break about the Dublin-based company.
Awas has doubled in size in the past year, accumulating a portfolio of 224 owned aircraft worth about $6 billion, with a further 94 managed aircraft – leased to more than 130 customers. But it plans to double again within the next five years.
In fact, Franklin Pray, Awas's chief executive officer, reveals the lessor expects to make several announcements within the next two months, including an order for aircraft that is expected to run into "triple digits" – and not in value, but by number....
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