BAE Wins easyJet Remarketing Mandate for 4 Airbus A321s
26 Aug 2009 | Ref. 139/2009
Hatfield, United Kingdom, BAE Systems has won an exclusive mandate from leading low fares carrier easyJet to remarket four Airbus A321 airliners.
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The four aircraft are all A321-200 versions, powered by IAE V2533-A5 engines. All have been operating recently across easyJet's extensive European route network, and are available for delivery in September and October. They are all relatively young aircraft which make them attractive in today's market.
Announcing this new mandate today Hamish Davidson, Executive Vice President Business Development for BAE Systems' Asset Management business said: "We have a robust and innovative marketing plan in place which we consider will lead to a timely and successful placement of these aircraft, and which is why easyJet has selected us to take on this important aircraft remarketing project."
The Airbus A321 is the largest variant of the Airbus A320 family of aircraft and was first delivered in 1998. These four recent build aircraft will be attractive to existing Airbus customers operating with IAE-powered A320 family aircraft in their fleets. They also represent an attractive investment opportunity for financial institutions whose business models favour such assets.
In recent years BAE Systems has amassed much expertise in the remarketing and management of Airbus aircraft. It has previously managed and remarketed Airbus A319, A320 and A321 aircraft on behalf of several banks. It also acts as independent service advisor to the Air2US securitisation of 17 Airbus A300s and 22 A320s in operation with American Airlines and United Airlines respectively.
Currently, the company is remarketing an Airbus A318 on behalf of Q Aviation of the USA. Among non Airbus aircraft currently being remarketed are eight Boeing MD83s on behalf of Colombian flag carrier, Avianca, in addition to a number of BAE Systems aircraft types from its own portfolio.
Through its Asset Management business, BAE Systems provides aircraft remarketing, lease management and technical services to the owners and operators of commercial aircraft from regional equipment through to wide-bodies.
Over the last 16 years its track record includes the completion of over 1600 lease contracts, the sale of some 400 commercial airliners and the remarketing and management of a wide range of aircraft including Boeing and Airbus types.
Source : BAE Systems PLC (LSE: BAES.L)