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FORMED IN 1985. JET AIRPLANE LEASING COMPANY.
NOVEMBER 1994: 767 (VN422) DELIVERY.
DECEMBER 1994: 2 767 DELIVERIES.
MARCH 1995: 737-33A (PS624) DELIVERY. 8 A300-600B4-600'S (PW4158) DELIVERIES.
SEPTEMBER 1996: FARNBOROUGH 6 ORDERS 737-300'S, 10 ORDERS 737-700'S, AND 9 ORDERS 767-300ER'S. NOW HAS ORDERED 81 737'S, AND A TOTAL OF 125 BOEING (TBC) AIRPLANES IN THE LAST 10 YEARS.
OCTOBER 1996: 1 A300B4-600R (PW4158) RETURNED FROM (GIA).
NOVEMBER 1998: LANCE STRONG, MANAGER ENGINEERING REPLACES BRIAN FREEMAN.
MARCH 1999: 1ST OF 5 737-700'S DELIVERY.
FEBRUARY 2000: MORGAN STANLEY DEAN WITTER (MSDW) PURCHASED (AWW) FROM THE NEWS CORPORATION AND THE TNT POST GROUP. (AWW) PORTFOLIO IS 51 737-300/-500'S, 3 737NG'S, 15 757'S, 12 767'S, 16 MD-83'S, AND 8 A300'S.
FEBRUARY 2001: INTERESTED IN (TWA) 717-200'S ON ORDER, SINCE (TWA) IS BEING SOLD.
SEPTEMBER 2001: (AWW) OWNER MORGAN STANLEY/DEAN WITTER PURCHASED 61 AIRPLANES FROM ILFC (ILF), INCLUDING 41 BOEING (TBC) AIRPLANES.
May 2003: Signs agreement with Precision Conversions LLC for conversion of 2 757's into freighters in 2004 with additional options thereafter.
747-341 (CF6-80C2) (24106), bought from Air Atlanta Icelandic (AID), wet-leased to Air Pullmantur, Spain
February 2004: See attached link to "Leasing Survey 2004," which shows (AWW) ranked 8th of the top 40 airplane leasing companies with 2 turboprops, 3 regional jets, 129 narrow bodies, and 45 wide bodies.
June 2004: Ansett Worldwide changes its name to "AWAS," the abbreviation for Ansett Worldwide Aviation Services, which served as the airplane leasing company's name from 1985 to 2001. The name was changed shortly after (AWAS) was acquired from Ansett (ANS) by Morgan Stanley.
August 2004: Agreement between AWAS (AWW) and Loftleidir Icelandic (wet-leasing subsidiary if Icelandair Group) to provide 757's & 767's for Icelandair (ICE) to provide wet-leasing services to airlines around the world.
January 2006: Morgan Stanley said it entered into a definitive agreement to sell operating lessor (AWAS) (formerly Ansett Worldwide Aviation Services) (AWW) to Terra Firma, a European private equity firm, for $2.5 billion in cash plus the assumption of liabilities.
The sale is expected to close in the first half of this year. Morgan Stanley took a $1 billion charge in the third quarter of 2005 to write down the value of the (AWAS) (AWW) portfolio to its then-estimated fair market value. Based on terms of the agreement with Terra Firma, Morgan is revising its estimate of (AWW) fair value and reducing the previously mentioned write-down by "an amount that approximates $500 - $550 million after tax."
(AWW) has about 30 staff members based at its headquarters in Bellevue, Washington, USA, and 119 staff worldwide. It is unclear if the operation's headquarters will remain in Bellevue.
(AWW) owns 155 commercial transport airplanes. The majority are older Stage 3 types such as 737 Classics, MD-80s, 757s, 767s and A300s.
March 2006: Based on an "Airline Business" magazine survey of airplane leasing companies, (AWAS) (AWW) has a fleet of 156 airplanes valued at $2,559 million and is ranked 11th of the top 50 airplane leasing companies (see attached data).
Currently, (AWW) has 154 airplanes, with 74 customers in 45 countries.
May 2007: Terra Firma, a European private equity firm, added to its portfolio of operating lease companies with the purchase of San Francisco-based, Pegasus Aviation Finance (PSS). The sellers were investment funds, managed by Oaktree Capital Management and (PSS) senior management. Last year, Terra Firma acquired (AWAS) (AWW) from Morgan Stanley for $2.5 billion in cash, plus the assumption of liabilities. Terra Firma CEO, Guy Hands said the purchase of (PSS) "builds on our initial (AWW) acquisition and will significantly strengthen our worldwide position within the airplane leasing sector." (PSS) owns 82 airplanes and manages 94 others. (PSS) has 37 airplanes on order including the 787. (AWW) leases 134 airplanes to 72 airlines, according to Terra Firma.
June 2007: Terra Firma and AWAS (AWW) completed their acquisition of Pegasus Aviation Finance (PSS) of San Francisco, which was announced last month. The combination will create the world's third-largest airplane lessor, (AWW) said. The new company owns 223 airplanes valued at more than >$5.5 billion and has an additional 101 airplanes under management and on lease to more than 120 customers. It has $2.2 billion worth of orders in place with Airbus (EDS) and Boeing (TBC).
October 2007: AWAS (AWW) completed its first sale/leaseback deal with TAM Brazil (TPR) for an A320. The lease is for six years.
December 2007: $2.3 billion, 31 orders plus 19 purchase rights, 737-800s, raising to 39 the number of airplanes the lessor (AWAS) (AWW) has on order with Boeing (TBC). (AWW) owns and manages 315 airplanes.
757-23A (25490, SP-FVR), returned from Prima Charter as (N490AN).
January 2008: AWAS (AWW), the Dublin-based lessor, gave Airbus (EDS) a strong start to the year with an order for 75 A320s plus 25 options.
The firm airplanes will bring its (EDS) portfolio to 145 units, the manufacturer (EDS) said. The deal is valued at $6.9 billion at list prices. "This transaction represents a natural extension of the new airplane order stream that we acquired in 2007 through the acquisition of Pegasus Aviation (PSS) Finance Company," (AWW) President & CEO, 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."
(AWW) currently owns and manages more than >320 airplanes and said it is one of the world's three largest airplane lessors.
March 2008: AWAS (AWW) said it finalized the purchase of six new A330-300s from Airbus (EDS) for lease to Singapore Airlines (SIA). The transaction is valued at $1.2 billion at list prices and first delivery will be next year. The lessor said the order "reflects our goal to further diversify our airplane portfolio and broaden the appeal to our airline customers." (AWW) ordered up to 100 A320s two months ago.
June 2008: AWAS (AWW) named Andrew Beer, Regional Sales Director Asia/Pacific.
(AWW) leased a third 767-300ER to Ethiopian Airlines (ETH).
(AWW) announced the lease of two 767-300ERs to TAM (TPR). The airplanes will operate in South America this summer, before entering new service to Miami.
July 2008: At the Farnborough Air Show, (CFM) said Dublin-based operating lessor (AWAS) (AWW) selected the (CFM56-5B) to power 45 firm and up to 55 option A320 family airplanes ordered earlier this year. The firm engine order is valued at more than >$600 million at list price and deliveries are scheduled between 2011 and 2015.
(AWW) promoted VP Sales Europe, Jennifer Moulton to Senior VP Sales Europe, Middle East and Africa.
(AWW) Aviation Trading Ltd selected (IAE) (V2500)s to power 30 A320s to be delivered in 2011 through 2015 in a deal valued at $166 million. (AWW) currently owns a fleet of 29 A320-family airplanes powered by (V2500)s.
November 2008: Assigned Frederic Mireur, Head Corporate Finance.
January 2009: SEE ATTACHED - - "AWW-NEWS-JAN09."
May 2009: (AWAS) (AWW) delivered the 1st MD-11F to re-launched Cargoitalia (CGT). The airplane will enter service this month.
July 2009: Honeywell (SGC) announced that (AWAS) (AWW) has selected an avionics suite and (APU)s under a contract covering up to 110 new airplane deliveries and worth $77 million.
March 2010: (AWAS) (AWW) announced the resignation of President & (CEO) Franklin Pray.
May 2010: (AWAS) (AWW) delivered a 6th A330-300 to Singapore Airlines (SIA), making (SIA) its largest customer to date. It also delivered a 2nd A320-200 to Strategic Airlines (STC), to be based in France and used throughout Europe under charter contracts on behalf of 3rd parties.
(AWW) delivered 1 737-400 to Italy's Mistral Air (MSA) for use on domestic and international charter flights. Mistral (MSA) is the main service provider for the Italian postal system. The Dublin-based lessor also delivered 1 A340-300 to Aerolineas Argentinas to support its existing long-haul network.
August 2010: (AWAS) (AWW) named Ray Sisson (CEO).
February 2011: Simon Glass, Chief financial officer (CFO).
March 2011: (AWAS) (AWW) announced that Terra Firma, Canada Pension Plan Investment Board (CPPIB) and other co-investors committed to invest an additional $529 million in (AWAS) (AWW) by April and a another $200 million "to finance further value enhancing opportunities."
The initial investment of $529 million is being made by Terra Firma ($246 million), (CPPIB) ($266 million) and other co-investors ($17 million), following which Terra Firma’s interest in (AWAS) (AWW) will be 60%, (CPPIB)’s 25% and other co-investors’ 15%.
(AWAS) (AWW) President & (CEO) Ray Sisson said: “(AWW) is very pleased that Terra Firma and (CPPIB) continue to invest in (AWAS) in order to allow us to continue to grow."
AWAS (AWW) said it agreed to a sale/leaseback deal with Brazil's GOL (GOT) covering 5 737-800s (GOT) ordered directly from Boeing (TBC) for May 2011 - February 2013 delivery. (AWW) said it also agreed to an early return of two leased 767-300ERs "that do not meet (GOT)’s immediate fleet needs." (AWW) added that it "has already secured new long-term homes for these airplanes."
October 2013: (KfW) (IPEX)-Bank and (AWAS) Aviation Capital (AWW) have closed the fifth financing under their eight airplane Export Credit Agency-supported financing facility. The A320 airplane (5822) was delivered new to VietJetAir (VJE) and will be on a long-term operating lease to the carrier. The transaction closed October 28. The remaining airplanes are scheduled for delivery in the coming months.
November 2014: China lessor, Cheung Kong Holdings has announced it will pay a $2.02 billion in 4 transactions for 60 airplanes in an effort to enter the rapidly growing Asian airplane leasing market.
The 4 deals include purchasing 21 airplanes worth $816 million from (GECAS) (GEF), 10 airplanes valued at $492 million from (BOC) Aviation (SIL), and 14 airplanes worth $584.2 million from Jackson Square Aviation. Cheung Kong will also form a joint venture (JV) with the airplane leasing unit of Japan’s Mitsubishi Corporation to buy 60% stakes of 15 airplanes for an investment of $132 million.
The transactions are in line with the company’s strategy to further develop its airplane ownership and leasing business, the lessor said. It also noted the airplane leasing business can bring long-term stable revenue for the company.
Cheung Kong Holdings is owned by Li Ka-shing, known as Asia’s richest man.
In August, Cheung Kong confirmed the company was in talks to buy airplanes from private equity firm, Terra Firma-owned lessor, (AWAS) Aviation Capital (AWW), in a deal worth about $5 billion.
March 2015: The Macquarie Group has agreed to purchase 90 airplanes from Dublin-based lessor, (AWAS) (AWW) for $4 billion.
March 2016: Dublin-based lessor, (AWAS) (AWW) named David Siegel as (CEO). Siegel will take up the role at the lessor from April 2016 and will be based at its headquarters in Dublin.
He has >30 years’ experience in the aviation industry and was most recently (CEO) at USA low-cost carrier (LCC) Frontier Airlines (FRO).
June 2016: Dublin-based lessor, (AWAS) (AWW) has placed a follow-on firm order for 15 A320 family aircraft, comprising 3 A321ceos and 12 A320ceos. “(AWAS) is bullish on the A320 and A321ceo family as its value proposition to airlines remains strong, which is evident in the continued global demand for Airbus single aisle aircraft,” (AWAS) (CEO), Dave Siegel said.
This latest acquisition takes (AWAS)’ cumulative order total to 95 A320 family aircraft to date, comprising 89 A320s and 6 A321s.
Since launch, the A320 has racked up >12,500 orders and >7,000 deliveries.
May 2017: In another instance of aircraft leasing firm consolidation, Dubai Aerospace is buying (AWAS) (AWW), which tended to specialize in renting planes to airlines with lower credit ratings (taking more risk, in other words, but charging higher rates). Based in Dublin like many lessors, (AWAS) isn’t small, sporting a portfolio of >250 jets.
August 2018: (DAE) Hits Record Interim Profit After (AWAS) Acquisition" by Victoria Moores (email@example.com), August 10, 2018.
Dubai Aerospace Enterprise (DAE) has posted a +$224 million pre-tax profit for the 2018 1st half, up from +$42.5 million for the comparable period, driven by the “smooth and successful integration” of leasing company (AWAS).
“These results would simply not have been achievable without a smooth transition to a combined platform. Today, (DAE) is an exceptionally strong company created by marrying stable and strong ownership with the platform capabilities we acquired last year. Our expectation is for continued improvement in our financial metrics and liquidity profile that will eventually lead to higher credit ratings,” (DAE) (CEO) Firoz Tarapore said.
Since (DAE) closed the (AWAS) merger in August 2017, the combined platform has completed 108 aircraft transactions and built up a portfolio of 375 owned, managed and committed aircraft, valued at $15.5 billion.
During the 1st half, (DAE) generated $711.4 million in revenue, up from $228.7 million for the comparable period in 2017. (DAE) purchased 15 aircraft, disposed of 8 and closed $774.5 million in borrowings.
(DAE) has also announced the sale of 16 aircraft, valued at $900 million, seizing on “a period of strong investor demand for aircraft assets.”
Click below for photos:
AWW-A320 Family - 2016-06.jpg
12 737-500 (24785, N785AW; RF (VAR) 7/05).
31/19 ORDERS 737-800 (CFM56-7B).
1 747-341 (CF6-80C2) (701-24106), EX-(AID) 5/03, LST AIR PULLMANTUR. 8F, 46C, 362Y.
1 757-23A (25490, N490AN), RF PRIMA CHARTER 12/07, WAS (SP-FVR).
28 767, 3 767-300ER'S LST (ETH).
15 ORDERS A320 FAMILY AIRCRAFT, INCLUDING 12 A320ceos & 3 A321ceos:
1 A320, BF & 6 YR LST (TPR) 10/07.
45/24 ORDERS A320 (CFM56-5B):
30 ORDERS (2/11) A320 (V2500).
6 ORDERS (2/09) A330-300 (TRENT 700), FOR LST (SIA).
PETER ABLES, CHAIRMAN.
DAVID SIEGEL, CHIEF EXECUTIVE OFFICER (CEO) (2016-03), EX-(FRO).
CHARLES GRAHAM, MANAGING DIRECTOR.
SIMON GLASS, CHIEF FINANCIAL OFFICER (CFO).
FREDERIC MIREUR, HEAD CORPORATE FINANCE (2008-11).
DOUG WINTER, HEAD SALES (2010-12).
SALLY HAMILTON, GENERAL COUNSEL.
GREG CUMMING, EXECUTIVE VP TECHNICAL OPERATIONS.
PETER WOOD, EXECUTIVE VP BUSINESS & LEGAL.
STEVE TRAVIS, EXECUTIVE VP SALES.
COLIN SMITH, EXECUTIVE VP BUSINESS DEVELOPMENT.
JENNIFER MOULTON, SENIOR VP SALES EUROPE, MIDDLE EAST, & AFRICA (2008-07).
ANTONIO LOPES, VP TECHNICAL SERVICES.
DENNIS CARNELL, VP ENGINEERING (USA), BOEING (425) 818-3550)
BILL PADGETT, VP POWERPLANT MANAGEMENT.
HARRY FORSYTHE, VP MARKETING.
CARTER WHITE, VP PORTFOLIO MANAGEMENT (2004-08).
PETER DAVIS, VP STRATEGIC PLANNING/ENGINEERING,
ROSLYN SELLEY, VP LEASING.
BRENDON MILLER, VP FINANCIAL CONTROLLER.
ROBERT KOLIMACKOVSKI, VP INFORMATION SYSTEMS.
ANDREW BEER, REGIONAL SALES DIRECTOR ASIA/PACIFIC (2008-06).
LANCE STRONG, DIRECTOR SALES ENGINEERING (firstname.lastname@example.org) (1998-11).
PETER ELLISON, HEAD SALES (2008-01).
BORIS STREUN, ENGINEERING MANAGER (email@example.com).
TOM MCCANN, ENGINEERING MANAGER (firstname.lastname@example.org).
LARRY WHITTALL, MANAGER QUALITY CONTROL (QC), BOEING (425-234-4990).
IAN FROST, MANAGER QUALITY CONTROL (QC), BOEING (425-342-0920).
NIGEL QUINEY, MANAGER SALES SUPPORT (email@example.com).
BELINDA HANSEN, HUMAN RESOURCES (HR) MANAGER.
PHILLIP GRAHAM, MANAGER SALES SUPPORT (firstname.lastname@example.org).