Fifty percent stake in AerVenture bought by Waha Capital

Sunday saw Abu Dhabi-based investment company Waha Capital announcing that it would invest a sum of $135 million (Dh495.4 million) to acquire 50 per cent stake in the $2.4 billion AerVenture, a subsidiary of Dutch aircraft leasing firm AerCap.

A delivery of 22 Airbus A320 aircraft has been taken by AerVenture which have been leased to airline companies around the world. Air France-KLM and Royal Jordanian are its customers.

It has been informed that the JV would be leasing 54 aircraft finally, and the remainder of the A320 family of aircraft on order will be delivered between now and May 2011.

Another $135 million would be invested by AerCap, which will retain a 50 per cent stake in AerVenture, as its share of equity investment in the joint venture company with the combined total investment in AerVenture standing at $270 million.

Waha Capital's Chief Executive Officer Salem Al Nuaimsaid, "The joint venture that we are marking today is a tremendous expansion of our asset base and the number of aircraft in our portfolio."