AWAS acquires narrowbody portfolio from GECAS

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Operating lessor AWAS has completed the acquisition of a 10-aircraft portfolio from GECAS.

The Dublin-based lessor says the portfolio comprises five Boeing 737-800s and five Airbus A320s.

The acquisition deepens relationships with current AWAS customers Gol in Brazil (one 737-800), Indonesia’s Lion Air (two 737-800s), Japanese carrier Skymark Airlines (two 737-800s) and Philippine Airlines (one A320).

Two carriers, Juneyao Airlines and Jetstar Japan, become new customers for AWAS through the transaction. Each will have two A320s on lease from AWAS.

“We have consistently communicated to the markets that a key growth channel for AWAS is the acquisition of modern aircraft that deliver immediate positive rental revenue to our business,” says AWAS president and chief executive Ray Sisson. “This 10-aircraft portfolio is another example of how AWAS’s platform excels at managing significant asset purchases [and] aircraft types, as well as a broader array of jurisdictions.”

In early 2012, GECAS sold 12 narrowbodies to AWAS. The transaction followed GECAS’s sale of 29 737 Classics and four A320s, with build years ranging from 1995 to 1998, to Orix Aviation.