December 14, 2007 — AWAS and Boeing announced today that the Dublin-based leasing company has signed a purchase agreement for an order of 31 737-800s. Following its recent acquisition of Pegasus Aviation Finance, AWAS is now one of the three largest aircraft leasing companies in the world. Aero Law Group acted as outside counsel to AWAS in the transaction.
AWAS President and Chief Executive Franklin Pray said, “We are very excited to conclude this deal with Boeing. This is the culmination of months of hard work and is an appropriate way for AWAS to finish off what has been a very exciting and redefining year for the company.
“These new Boeing Next-Generation 737 aircraft will offer greater options to our global customer base and future airline clients in support for our growing business. This time a year ago AWAS would not have been in a position to place an order of this magnitude. However this deal shows just how far the company has grown in the last 12 months and that we have further exciting plans for the future.
“We hope that we will be in a position to announce further deals of this calibre in the coming years and that the success we have enjoyed during 2007 will continue into 2008 and beyond,” Mr. Pray concluded.
Founding Attorney of Aero Law Group, Kevin Austin said, “We are pleased to represent AWAS and to be involved in the lessor’s phenomenal growth and preparation for the future. We are honored to be part of such an exciting and energetic company that is quickly becoming one of the market leaders in commercial aviation.”
AWAS owns and manages 315 modern aircraft and has approximately 129 airline customers situated around the world. The AWAS fleet features a full range of aircraft from Airbus and Boeing and is a leader in next-generation technology, having become one of the first lessors to order both the Boeing 787 and the Airbus A350 XWB.
Aero Law Group’s mission is to provide the highest quality transactional legal services to airlines and aircraft owners and operators worldwide.