30 Oct 2003
BAE Systems Capital announces that it has entered into an agreement with Air 2 US to act as Independent Service Advisor to the Board in respect of its interest in an Airbus aircraft portfolio, the lease rentals from which, support an Air 2 US securitisation. This agreement will see BAE Systems Capital provide a range of monitoring and business advisory services to Air 2 US, through its Asset Administration team.
Commenting on the agreement, Terence Black, Managing Director of BAE Systems Capital said, This builds on our success in servicing the SYSTEMS 2001 Asset Trust portfolio. The Air 2 US transaction is another significant monetisation of aircraft receivables, and we are proud to be associated with it. The growing reputation of our Asset Administration team is based on the combination of excellent individuals with specialist systems to provide a first class service.
About BAE SYSTEMS Capital:
BAE Systems Capital is a wholly owned subsidiary of BAE Systems, established to provide innovative financing solutions to support the Group's business. Its aim is to be acknowledged as the leading provider of financial and asset administration services in BAE Systems markets. Asset Administration is an integral part of BAE Systems Capital. It supports the natural development of BAE Systems own portfolio, and provides its highly specific skills directly into the international financial market place on a stand-alone basis. It currently administers assets of US $5 billion.
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.
