06 Nov 2003
BAE Systems today announced that it has reached agreement to sell its shareholding in BAE Systems Flight Training (Europe), a civil flying training school in Jerez Spain, to an in-house management team.
Ian King, managing director for the companys support business Customer Solutions & Support, commented: "We believe the future growth opportunities for BAE Systems Flight Training (Europe) are better satisfied outside of the company under the direction of an independent management team."
BAE Systems Flight Training (Europe) has net assets of approximately Euros 11 million, employs 95 people and delivers civil flying, ground and simulation training.
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, manufactures and supports military aircraft, surface ships, submarines, 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 more than 90,000 people and generates annual sales of approximately 12 billion through its wholly-owned and joint venture operations.
BAE Systems, innovating for a safer world.
About Customer Solutions & Support:
Customer Solutions & Support employs over 12,000 people at 30 locations and provides through-life support and services across the air, sea and land sectors. It carries out upgrades, maintenance, repair and overhaul of military aircraft and naval vessels. CS&S supports customers' capability in areas such as training; facilities management; spares and repairs; technical information services; manpower services; and supply chain and logistics management.
CS&S skills are deployed managing support and services projects worldwide including a broad range of contracts in Australia and the key Saudi Arabian Al Yamamah programme. CS&S is also working closely with the UK Ministry Of Defence to reduce the cost of support and training - without compromising front-line efficiency.
