BAE Systems sells aircraft fleet and asset management business

BAE Systems has agreed to sell its commercial aircraft lease portfolio and Asset Management business to investment affiliates of Fortress Investment Group for $187 million in cash, subject to certain post-completion adjustments.
 

Completion of the deal, which is expected to close in Q3 2011, is subject to regulatory approval. 
 

With sixteen lease customers in eleven countries, BAE Systems Asset Management is the world’s second largest regional jet lessor by fleet value and the tenth largest aircraft lessor by fleet size.

The business is responsible for the management of 151 commercial aircraft owned by BAE Systems, which are included within the sale, plus the management of third party owned commercial aircraft on behalf of airlines and investors.

The support and engineering activities of BAE Systems Regional Aircraft are not included in this sale.

According to Alan Fraser, managing director of BAE Systems Regional Aircraft, the company will continue to provide the full range of support to the new owner, including continuing airworthiness and engineering services.

Quelle: eyefortransport
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