Waha Capital advised by Trowers and Hamlins on JV with AerCap

Waha Capital received advice by City law firm Trowers & Hamlins LLP on its signing of a $270m aircraft leasing joint venture with AerCap. This venture would witness Waha Capital enlarge its presence in the global aircraft leasing sector.

If the advice by Trowers & Hamlins is adhered to, then a 50% stake in the aircraft would be acquired by Waha Capital leasing joint venture company AerVenture, which was established in 2006 by AerCap.

The basic aim of developing AerVenture, which has a $2.4bn asset base that includes 22 A320s and orders for a further 32 aircraft, was to focus on new Airbus A320 family aircraft.

An agreement has also been reached upon by Waha Capital and AerCap on number of separate individual aircraft sales, as a part of the transaction. It will also include the purchase of an Airbus A320 by AerVenture, and four A320 family aircrafts by AerCap, from Waha Capital.

Specifying further, Trowers & Hamlins' Head of Aviation, Roger Clarke, who led the team on this deal, said: "This has been a very exciting deal for Waha Capital and for Trowers & Hamlins. I am particularly pleased that we completed the deal on-time against both a tight timetable and a challenging backdrop within the global aviation industry."