29 Aug 2003
The Trading and Services business of BAE Systems Regional Aircraft has won an exclusive mandate from aircraft owners for the re-marketing of nine Boeing 757-200 aircraft currently operated by US Airways.
The aircraft are on lease to US Airways and form an integral part of the airlines plans under the successful recently agreed re-structuring of the airline, and will be sold subject to these leases.
This important mandate marks the growing success of the Trading and Services venture that has already placed a number of aircraft into new markets on behalf of other owners.
Commenting on the deal Jon Skirrow who heads up BAE Systems Trading and Services, says: We are delighted to be working for the aircraft owners. The services that we are providing are built upon our long experience in aircraft sales, asset management and portfolio servicing. At such difficult times in the market we believe our expertise can be vital for aircraft owners and financiers to maximise value from their aircraft."
The agreement is with Wilmington Trust Company, acting as Collateral Agent, for nine (9) Boeing 757-2B7 Rolls Royce-powered aircraft bearing manufacturers serial numbers 27246, 27303, 27805, 27806, 27807, 27808, 27809, 27810 and 27811.
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 350 aircraft.
About BAE SYSTEMS:
BAE Systems is an international company engaged in the development, delivery and support of advanced defence and aerospace systems in the air, on land, at sea and in space. The company designs, manufacturers and supports military aircraft, surface ships, radar avionics, communications, electronics and guided weapon systems. It is a pioneer in technology with a heritage stretching back hundreds of years. It is at the forefront of innovation, working to develop the next generation of intelligent defence systems.
BAE Systems has major operations across five continents and customers in some 130 countries. The company has 100,000 people and generates annual sales of approximately 12 billion through its wholly-owned and joint venture companies.
BAE Systems, innovating for a safer world.
