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Macquarie to buy planes from lessor AWAS; raise $391 mln — Reuters

SYDNEY (Reuters) – Macquarie Group on Wednesday said it will raise A$500 million ($390.65 million) to fund its $4 billion acquisition of a portfolio of planes from AWAS Aviation Capital Ltd, one of the world’s biggest aircraft lessors.

Post-acquisition, Macquarie’s combined aircraft portfolio will stand at A$9.4 billion with 220 aircraft.

The move is part of the company’s plan to grow its annuity-style business and enhance its market position in aircraft leasing, it said in a presentation to analysts and investors.

Reuters had reported in January that Macquarie’s aircraft leasing subsidiary is in exclusive talks to buy a portfolio of new planes from Dublin-based lessor AWAS for more than $4 billion.

AWAS is owned by British private equity firm Terra Firma Capital Partners Ltd [TERA.UL] and has more than 300 planes on lease to over 110 airlines.

($1 = 1.2799 Australian dollars)