Mar 21, 2010
DUBLIN - Dublin based lessor, AWAS
announced last Friday that its President and CEO, Franklin Pray
has decided to leave the business due to his desire to relocate back to the United States.
He will aid the Board of Directors in the search of his successor and will continue to drive value in the business as he has done over the past four years to accomplish an effective leadership transition.
On behalf of the Board of Directors, its chairman Werner Seifert stated that “I would like to thank Frank for his contribution in transitioning AWAS from a third tier player to a powerhouse in the aircraft leasing industry that is very well positioned for the challenges and opportunities ahead, while driving value for Terra Firma investors”.
AWAS had appointed Franklin Pray as its President and Chief Executive Officer back in September of 2006, at that time replacing Charles Graham who was CEO of AWAS from 1997 to 2006. Mr. Pray was previously Managing Director of CIT Aerospace International.
The most significant milestone of his time with AWAS was the acquisition of Pegasus Aviation Finance Company in June 2007. Mr. Pray oversaw the implementation of this deal and the subsequent integration of the Pegasus and AWAS company structures. Following the completion of the acquisition, AWAS owned and managed a fleet of over 300 aircraft, with more than 120 clients worldwide.