AWAS (company)

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Ansett Worldwide Aviation Services (AWAS)
Company typeDivision
IndustryAircraft leasing and sales
Founded1985
Defunct2017
FateAcquired by DAE Capital
Headquarters Dublin, Ireland
Website www.awas.com

Ansett Worldwide Aviation Services (AWAS) or simply Ansett Worldwide was one of the world's largest commercial jet aircraft leasing companies. Its head office was located in Dublin, Ireland, and it had offices in Miami, New York City, and Singapore. [1]

Contents

In August 2017, AWAS was acquired by Dubai Aerospace Enterprise, both managing at least 329 airliners. [2] [3]

History

Ansett Worldwide Aviation Services was Ansett Australia's subsidiary and leasing arm since 1985. [4] By 1996, it was made a distinct company from Ansett Australia. Like Ansett Australia, Ansett Worldwide was owned by TNT and News Corporation. [5] When TNT sold its share in Ansett Australia to Air New Zealand in 1996, it retained its ownership of Ansett Worldwide.

Ansett Worldwide was sold to an affiliate of Morgan Stanley Dean Witter in February 2000 for close to US$600 million. At the time of sale, AWAS had a leasing portfolio of 105 aircraft valued at US$4 billion, with 47 airlines. [6] The Ansett name was retained as it was instantly recognisable in the global aviation industry. [4] Under Morgan Stanley ownership the company was renamed simply Ansett Worldwide, the Aviation Services being omitted. The Ansett Worldwide fleet was combined with the Morgan Stanley Aircraft Leasing fleet, resulting in a combined fleet size of 180 aircraft by 2003.

In 2004 Ansett Worldwide was rebranded as AWAS. A company media release issued to coincide with the rebranding stated that the company had outlived its association with a failed airline, hence the dropping of the Ansett name. In the industry it was known that some customers had shown a reluctance to deal with Ansett Worldwide, perceiving that the aircraft available were ex-Ansett Airlines aircraft that had been sitting idle since the airline had ceased operations, despite assurances from the lessor that this was not true. [7]

Morgan Stanley sold AWAS in 2006 to the UK hedge fund Terra Firma with management and operations relocated to Dublin.

In 2007 AWAS acquired and integrated it with the Pegasus Aviation Finance Company into one company. [8] [9] [10] [11]

As of 2010 it was one of the top ten largest aircraft leasing companies in the world. [12]

Corporate affairs

AWAS had its head office in The Galleries building (500 George Street) in the CBD of Sydney, Australia during the period of Morgan Stanley ownership. Administratively, the CEO and selected staff relocated to the Seattle office to be closer to the owners in Morgan Stanley's New York headquarters. The company's marketing, I.T., communications, legal, financial and administrative sections remained in Sydney throughout this period. Post the acquisition by Terra Firma the Sydney office closed, staff were either retrenched or relocated to the new Ireland office in Block B of Riverside IV along Sir John Rogerson's Quay in Dublin, Republic of Ireland. [1] [13] Its Miami office was in One Brickell Square in Downtown Miami, while its New York City office was in Suite 203 of 620 at 444 Madison Avenue.

Previously, its Dublin location was in the City West Business Campus. It also had a London office in the City of Westminster. [14] At a later point the Dublin office was located in Regus House at Harcout Centre. [15] By 2007 the company opened its new Dublin headquarters, Alexandra House, The Sweepstakes, Ballsbridge. At that time it consolidated its London office into its Dublin headquarters. [16]

The company previously had an office in Bellevue, Washington State. [14] In 2006, the office had 30 employees in the office. [17] By 2007, it merged into the Miami office. [18]

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References

  1. 1 2 "Our Company Archived 7 February 2017 at the Wayback Machine ." AWAS. Retrieved on 8 August 2011. "Our team of commercial aviation industry professionals serves markets in The Americas, Europe, Middle East, and Asia-Pacific, from our Dublin headquarters and offices in New York, Miami, and Singapore."
  2. ↑ Scott Hamilton (21 August 2017). "Pontifications: DAE acquires AWAS, moves up in lessor status". Leeham Co.
  3. ↑ "Dubai Aerospace completes AWAS acquisition, jets into top tier". Reuters. 20 August 2017. Retrieved 23 November 2020.
  4. 1 2 "A report by Ansett Worldwide" (PDF). Morgan Stanley. 2004. Archived from the original (PDF) on 9 November 2005. Retrieved 27 September 2019.
  5. ↑ "News Corp 'could have saved Ansett'". Sydney Morning Herald. 19 August 2004. Archived from the original on 27 September 2019. Retrieved 27 September 2009.
  6. ↑ "Ansett Worldwide Aviation Services.(sale to an affiliate of Morgan Stanley Dean Witter)(Brief Article)(Statistical Data Included)". Air Transport World. Archived from the original on 18 October 2008.
  7. ↑ "From the archives: The Ansett collapse". Australian Aviation. 15 September 2019. Retrieved 10 May 2024.
  8. ↑ "AWAS ANNOUNCE OPERATIONAL REVIEW FOR 2007 Archived 3 October 2011 at the Wayback Machine ." AWAS. 1 February 2008. Retrieved on 8 August 2011.
  9. ↑ "AWAS Announce Operational Review For 2008" (PDF) (Press release). 1 February 2008. Archived from the original (PDF) on 22 March 2016.
  10. ↑ Smith, Peter; Smith, Gordon (11 May 2007). "Terra Firma acquires Pegasus Aviation" . Financial Times . Retrieved 10 January 2023.
  11. ↑ "Annual Report 2007" (PDF). AWAS. 29 May 2008. p. 5. Archived from the original (PDF) on 26 April 2012. Retrieved 25 December 2011.
  12. ↑ "Feature: 2010 Operating Lease Survey". Airfinance Journal. 22 July 2010. Retrieved 25 December 2011.
  13. ↑ "Locations Archived 19 July 2011 at the Wayback Machine ." (Direct link to Flash Archived 3 October 2011 at the Wayback Machine ) AWAS. Retrieved on 8 August 2011. "AWAS, Block B, Riverside IV, Sir John Rogerson's Quay, Dublin 2, Ireland" and "Miami Office AWAS, 801 Brickell Avenue, Suite 800, Miami, Florida, 33131, USA" and "New York Office AWAS 444 Madison Avenue NY NY 10022" and "AWAS, 435 Orchard Road, #10-03 Wisma Atria, Singapore, 238877"
  14. 1 2 "Corporate Locations." Ansett Worldwide. 20 October 2001. Retrieved on 8 August 2011. "Dublin Office Ansett Worldwide 3013 Lake Drive City West Business Campus Dublin 24 Ireland" and "London Office Ansett Worldwide 3rd Floor 14 Floral Street London WC2E 9DS United Kingdom" and "Seattle Office Ansett Worldwide 110-110th Avenue NE Suite 410 Bellevue WA 98004 USA"
  15. ↑ "Corporate Locations." Ansett Worldwide. 20 June 2006. Retrieved on 8 August 2011.
  16. ↑ "Corporate Locations." AWAS. 6 April 2007. Retrieved on 8 August 2011.
  17. ↑ "AWAS plane-leasing firm to be sold." The Seattle Times . Tuesday 31 January 2006. Business Digest. Retrieved on 8 August 2011.
  18. ↑ "Corporate Locations." AWAS. 28 July 2007. Retrieved on 8 August 2011.
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