AWAS has agreed to a purchase and leaseback transaction with the flag carrier of Ethiopia, Ethiopian Airlines. AWAS will purchase and lease back to the airline two new 737-800 aircraft that the airline had previously ordered directly from the manufacturer; the first aircraft delivered today with the second to come in 2014.
Tewolde Gebremariam, CEO Ethiopian Airlines remarked on the deal: “We are very pleased to be expanding our relationship with our trusted partner AWAS, who has come to us with a timely and efficient solution to finance these two modern aircraft for our growing fleet.”
Ray Sisson, President & CEO AWAS stated: “Delivering a customised solution for our valued customer Ethiopian Airlines to assist their planned growth is core to how AWAS operates.”
Marlin Dailey, Chief Commercial Officer AWAS commented: “AWAS is extremely proud to grow our partnership with Ethiopian Airlines. We actively use our ability to offer purchase and leasebacks as a fleet solution tool, which in combination with our new order and diverse portfolio of over 250 aircraft, offers airlines a broader array of options for efficient growth.”