Posted on: 16 March 2011 by Ross McSweeny
BAE Systems and Willis Lease Finance Corporation have signed a commercial aircraft agreement under which the former’s Asset Management business will provide pre-owned aircraft acquisition, remarketing and lease management services to Willis Lease.
Willis Lease provides commercial aircraft engines to passenger airlines, air cargo carriers and maintenance and repair organisations through short-term and long-term operating leases. Its current engine portfolio numbers nearly 200 engines, valued at more than $1 billion, and covers a wide range of engine types used on all the major manufacturers’ aircraft.
The company is now interested in acquiring certain pre-owned commercial aircraft as investment opportunities to complement and support its engine leasing activities. Willis Lease has selected BAE Systems Asset Management to be the provider for a range of services related to possible aircraft acquisitions and trading.
Initially, BAE Systems will research and identify suitable aircraft for acquisition based upon criteria provided by Willis Lease. It will then assist with commercial and technical evaluations of the aircraft.
Additionally, the agreement provides Willis Lease access to the services of BAE Systems Asset Management including remarketing of the aircraft along with a comprehensive range of lease management services.