19 Jul 2004
BAE SYSTEMS Trading and Services which provides remarketing, lease management, asset administration and advisory services to third party owners and lessors of commercial aircraft, has announced today a range of significant new deals on behalf of its global clients.
The new business won by the team announced today is as follows:
- The successful placement of an Airbus A321 (msn 1012) with Kibris Turk Hava Yollari (KTHY), the national airline of the Republic of Northern Cyprus on a five year lease in addition an agreement has been signed with the aircraft owners to act as manager of the lease during the term.
This transaction was arranged on behalf of Citibank, acting as Security Trustee for a global consortium of six banks and now successfully concludes a remarketing mandate won by Trading and Services to remarket a fleet of five ex-Sabena Airbus aircraft. Trading and Services now acts as lease manager for all five of these aircraft, which are currently on lease to CCM Airlines (Corsica), SN Brussels (Belgium) and now KTHY. - Meridiana S.p.A the privately owned Sardinian-based operator has concluded an agreement to lease three Airbus A319s for operations out of its Florence base. Trading and Services acted on behalf of the German bank Bayerische Landesbank (BLB) to place these aircraft and concluded this deal within four months of winning the remarketing mandate from the bank.
Furthermore, the team then successfully won the lease management contract for this fleet to manage these aircraft contracts throughout their term.
In addition to the lease management contracts successfully won with Citibank and BLB, Trading and Services today announces further lease management and asset administration business on behalf of the following banks:
- An exclusive agreement with the French bank CALYON (the newly-merged entity of Credit Lyonnais BFI and Credit Agricole Indosuez) for the lease management of six Airbus A320 aircraft currently operated by the low-cost Italian operator Volareweb.com.
- A full lease management contract with UK bank HSBC Plc covering a fleet of six Avro RJ85s and three Avro RJ100s currently operated by Belgian carrier SN Brussels Airlines.
Commenting on these transactions today, Jon Skirrow, Vice President Trading and Services said: The new business won by the team in the past few months has come as a result of our efforts in building upon the world-class remarketing and leasing skills developed in our highly successful Asset Management operation and promoting them into new market opportunities.
“This new business continues to demonstrate we have the full range of capabilities to offer owners/lessors and financiers of all aircraft types around the world. Throughout the remainder of this year it is our intention to continue to build strong relationships with out existing client base, and develop partnerships with new clients so that we can cement our position as one of the leading remarketing, asset administration and advisory operations in the global air transport market.”
BAE Systems Trading and Services currently manages over 65 aircraft on behalf of third party owners/lessors. Aircraft types successfully remarketed and managed include the Airbus A320 family, Airbus A300-600s Avro RJs, Boeing 737s and Boeing 757s.
About BAE SYSTEMS Regional Aircraft:
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 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.
