PRESS RELEASE
FOR IMMEDIATE RELEASE
The joint venture agreement was
signed in
AerVenture, established in 2006 with a focus on new
Airbus A320 family aircraft, has a US$ 2.4 billion asset base that includes 22
A320s plus firm orders for a further 32. AerVenture had become a
wholly-owned subsidiary of AerCap earlier this month following the termination
of its joint venture with two Kuwaiti co-investors, LoadAir and Al Fawares.
Salem Rashid Al Noaimi, CEO of Waha Capital said: “The AerVenture joint venture is an
example of the promising opportunities on offer in the current economic
environment, opportunities that
“We
are extremely confident in this equity investment in AerVenture,” Al Noaimi
said. “Particularly in a sector as challenging as aviation, choosing a partner
with the right credentials, expertise and commitment to long-term growth is
critical. We believe AerCap is such a partner, and are convinced our
investments in AerVenture will significantly benefit stakeholders in both
companies.”
Klaus Heinemann, CEO of AerCap, said: “We were
extremely pleased to enter into this partnership with an industry-experienced co-investor which
shares our vision of profitable growth and focus on serving the needs of the
world’s leading airlines. AerCap’s positive history with Waha Leasing, a
subsidiary of Waha Capital, was critical to the successful conclusion of the
deal.” In December 2008, Waha Leasing purchased an Airbus 330-200 and an
A320-200 from AerCap.
“With Waha as a joint venture partner, AerVenture’s
position is even stronger than in the past,” Heinemann said. “AerCap also
expects and looks forward to benefiting significantly from
AerCap and Waha Capital have also agreed a number of
separate aircraft transactions, including the purchase by AerVenture of an
Airbus A320 from Waha, and the purchase by AerCap’s subsidiary AeroTurbine of
four vintage A320 family aircraft.
About AerCap
AerCap is an integrated global aviation company with a leading market position
in aircraft and engine leasing, trading and parts sales.
About Waha Capital
Waha Capital is a leading Abu Dhabi-based and Abu
Dhabi Securities Exchange (ADX)-listed, diversified, investments holding
company. Waha Capital’s strategy is to drive multi-sector business growth and
diversification through acquisitions, joint ventures and creation of new
business. Its current business portfolio includes big-ticket leasing, financial
services, maritime and property development. Waha Capital's main institutional
shareholders are Mubadala Development Company and Abu Dhabi Investment Company.
This
press release may contain forward-looking statements that involve risks and
uncertainties. In most cases, you can identify forward-looking statements by
terminology such as “may”, “should”, “expects”, “plans”, “anticipates”,
“believes”, “estimates”, “predicts”, “potential” or “continue” or the negative
of such terms or similar terminology. Such forward-looking statements are
not guarantees of future performance and involve significant assumptions, risks
and uncertainties, and actual results may differ materially from those in the
forward-looking statements.
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AerCap |
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Contact for Media: |
Contact for Investors: |
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Waha
Capital |
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Wael Kanakri |
Brian Carvalho |