17 Mar 2003
BAE Systems Regional Aircraft announced today new sales, leasing and lease management business for its rapidly-growing Trading and Services team. This new business has been won in Europe and North America.
As the reputation of the Trading and Services team grows as an effective trading unit, so has the proportion of business involving non-BAE Systems origin aircraft. One of these new transactions involves wide-body aircraft for the first time.
The new business includes:
- A mandate from ANZ Investment Bank to re-market for sale or lease four BAe 146 regional jetliners (three BAe 146-200s and one BAe 146-100). Two of the Series 200s (E2073 and E2073) are currently operating on behalf of Qantas, Australia. The Series 100 (E1013) is currently operated by National Jet Systems in Western Australia on ad-hoc charters and the third series 200 (E2093) is ex-Ansett. Both of these two are available immediately.
- An agency agreement with BCI Aircraft Leasing, Inc. of Chicago to sell or lease two Boeing 737-200s (msns 21002, 21819), formerly operated by Varig and Air Canada, and two DC10-30s (msns 46712, 46713), previously operated by Hawaiian Airlines;
- An agreement with DaimlerChrysler to re-market a BAe 146-100 (E1063), formerly operated by Air Wisconsin;
- An agreement with Citibank, the security trustee for a consortium of six banks, to act as lease manager for four Airbus A319s that the Trading and Services team has already leased on behalf of the consortium. Two of the aircraft (msns 1336 and 1388) have been placed with SN Brussels Airways, with the remaining two (msns 1068 and 1145) leased out to CCM Airlines of Corsica.
As part of the expansion of its Trading and Services business, the appointment is announced of Toby Iles as Director Trading and Services, based at Hatfield, UK. Toby previously worked for the asset management team, but has had leave of absence for a year to compete as part of the British team for the Americas' Cup in New Zealand.
Commenting on these transactions today, Jon Skirrow, Vice President Trading and Services said, "The scale and scope of this new business confirms that the Trading and Services team of BAE Systems Regional Aircraft is now very well established in the competitive world market for pre-owned aircraft transactions. This new business has been secured as a result of quality performance across a range of aircraft types. In addition, we have also secured valuable on-going consultancy work to further underpin the business."
About BAE SYSTEMS Regional Aircraft:
BAE Systems Regional Aircraft is responsible for Customer Support, Engineering and Asset Management activities covering a world-wide base of 160 customers operating over 1,100 aircraft in addition to managing a trading and leasing portfolio of some 450 aircraft.
About BAE SYSTEMS:
BAE Systems is a systems company, innovating for a safer world. BAE Systems employs nearly 100,000 people including Joint Ventures, and has annual sales of around 12 billion. The company offers a global capability in air, sea, land and space with a world-class prime contracting ability supported by a range of key skills. BAE Systems designs, manufactures and supports military aircraft, surface ships, submarines, radar, avionics, communications, electronics, guided weapon systems and a range of other defence products. BAE Systems is dedicated to making the intelligent connections needed to deliver innovative solutions.
