Saab Announces Transactions for Civil AircraftLINKÖPING, Sweden - Defence and security company Saab's (STO:SAABB) subsidiary Saab Aircraft Leasing (SAL) announces five transactions of Saab aircraft with a total value of approximately MUSD 60 (approximately MSEK 400). The transactions will generate a capital gain of approximately MSEK 100, of which MSEK 40 will be recorded in the fourth quarter of 2011 and MSEK 60 in the first half of 2012.
The transactions include the sale of aircraft from SAL's European portfolio to Rockton Aviation (Sweden), Silver Airways (U.S.), AeroCentury (U.S.) and Alandia Air (Finland). Some deliveries took place in the fourth quarter of 2011 and the remainder will take place in first half of 2012.
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SAL has also entered into an agreement to a long term lease of a third aircraft to Siam General Aviation Company, Ltd in Thailand, an aircraft that was recently delivered.
"The intention to divest the leasing portfolio has been ongoing for a number of years. This is a natural step and the sale of these aircraft will make Saab focus on core business issues," says Michael Magnusson, President of Saab Aircraft Leasing.
A total of 71 operators in 38 countries around the globe operate over 450 Saab 340 and Saab 2000 aircraft.
"The divestment of the aircraft fleet within SAL is an asset sale by Saab. Saab's business area Support and Services will continue its business to provide global support for the complete Saab 340 and Saab 2000 fleet," continues Michael Magnusson, and concludes:
"Saab sees continued potential to further develop the existing aircraft into new special mission roles and is actively marketing these platform solutions to government and military customers. Business in this sector will act to benefit commercial operators of the types as well."
Saab Aircraft Leasing is located inSterling,VA, and has regional offices in Linkoping andTokyo. Subsequent these five transactions it manages a fleet of 67 aircraft of which 42 are owned byU.S.banks and managed under head lease contracts the remainder wholly owned within Saab.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers' changing needs.
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Source : Saab AB (OMX Stockholm: SAAB B)