BAE Systems To Sell Regional Fleet and Asset Management Business
BAE Systems announced today an agreement to sell its commercial aircraft lease portfolio and asset-management business to investment affiliates of New York
BAE Systems announced today an agreement to sell its commercial aircraft lease portfolio and asset-management business to investment affiliates of New York-based Fortress Investment Group for $187 million in cash. Expected to close in the third quarter, the sale remains subject to regulatory approval and “other conditions.”
The business, known as BAE Systems Asset Management, stands as the world’s second largest regional jet lessor by fleet value and the 10th largest aircraft lessor by fleet size. It counts 16 lease customers in 11 countries. The business manages the 151 commercial aircraft owned by BAE Systems included in the sale as well as third-party owned commercial aircraft on behalf of airlines and investors.
