Falko is new name for former BAE Systems leasing/asset management business

Falko is the new aircraft asset management company born out of the aircraft leasing business of BAE Systems, the acquisition of which by Fortress Investment Group on 15 July.

Falko is supported by affiliates of funds managed by Fortress Investment Group and enters the market with a portfolio of 143 aircraft, a highly experienced team including well-known industry names such as Steve Doughty, Paul Stirling and Rob Morris, and a proven track record.

Over the previous 18 years, this team has negotiated in excess of 1,800 commercial aircraft transactions valued at over $3.1 billion, and has customised and delivered some 750 aircraft.

Jeremy Barnes, chief executive officer of Falko, commented, “Our management buy-in team not only fully understands this business, but also the sector in which it operates. We have a different mind-set for this business and, together with the existing operating team we will work to maximise the value in the portfolio which we intend to realise over time. We also have a strong growth plan to build a long-term business.”

Falko has approximately 70 employees and is headquartered at Hatfield, Hertfordshire. It also has personnel located at Farnborough, Hampshire, in Herndon, Virginia, USA, as well as in Latin America and the Far East.

The Falko portfolio consists of 103 BAe 146/Avro RJs and 40 ATP and Jetstream family turboprops, originally manufactured by BAE Systems Regional Aircraft. The support and engineering businesses of Regional Aircraft will continue to provide Original Equipment Manufacturer (OEM) services to Falko, which becomes its biggest customer.

As the Original Equipment Manufacturer (OEM) and Type Certificate Holder, BAE Systems Regional Aircraft will continue to provide the full range of total support solutions to existing and future operators of the in-service fleet of these BAE Systems aircraft. These services include continuing airworthiness support, spares and logistics support, rate-per-flying-hour spares programmes, technical support services and modifications.

Alan Fraser, managing director of BAE Systems Regional Aircraft commented, “We look forward to maintaining our close and effective relationship with our colleagues in the asset management business under its new ownership and we wish them well in the years ahead. We will continue to offer high quality and cost-effective managed solutions for engineering and customer support.”

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