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News Release

BAE SYSTEMS extends leases on seven Jetstream 32s at skyways regional

26 Mar 2002

BAE Systems Regional Aircraft has extended leases on seven Jetstream 32s (Serial Numbers 841, 844, 846, 848, 854, 855, 857) operating with Skyways Regional of Hultsfred, Sweden. This deal was arranged by Skyways Aviation (UK) Ltd.

In addition, the airline has also extended the Material and Component Repair and Overhaul (MACRO) programme for the Jetstream 32s. MACRO provides operators a fixed maintenance cost that includes comprehensive spares support for a single fixed rate per aircraft flight hour. Currently five customers with a total of 48 Jetstream 32s are covered by MACRO.

"Our leasing business has been very active already this year," said Michael Canzian, SVP Asset Management - USA. "We are pleased to continue our relationship with the Skyways Group and extend Skyways Regional's leases on its Jetstream fleet, some for four more years, as the aircraft continue to offer high-frequency service to business travellers.""

"The operating economics of the Jetstream 32s are an important element of our goal to become one of the leading regional carriers in the Nordic region in terms of growth and profitability," said Jan Palmer, CEO Skyways Group.

The Skyways Group is one of Sweden's fastest growing companies and flies 48 routes, including eight international destinations. Skyways Holding AB is the parent company of the Skyways Group, which comprises Skyways Express and Skyways Regional, Skyways Enterprise and UK-based Skyways Aviation. The Group operates 46 aircraft and employs 600 people.


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