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Monday, 22 June 2009

Waha Capital buys into aircraft finance firm

Waha Capital has agreed to buy a 50 per cent stake in a Dutch aircraft finance company with assets worth US$2.4 billion (Dh8.8bn), in an undisclosed cash transaction.

The holding company, backed by the Abu Dhabi Government, will take the stake in AerVenture from the parent company AerCap, a firm based in Amsterdam and listed on the New York Stock Exchange.

AerVenture has a fleet of Airbus A320-family narrow-bodied aircraft, including 22 in service with airlines such as Air Arabia and Royal Jordanian. It has another 32 on order from Airbus.

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