Terra Firma and AWAS completed their acquisition of Pegasus Aviation Finance of San Francisco, which was announced last month (ATWOnline, May 14). The combination will create the world's third-largest aircraft lessor, AWAS said. The new company owns 223 aircraft valued at more than $5.5 billion and has an additional 101 aircraft under management and on lease to more than 120 customers. It has $2.2 billion worth of orders in place with Airbus and Boeing.

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