No More UK Commercial Aircraft?

BAE SYSTEMS has announced an agreement to sell its commercial aircraft lease portfolio and Asset Management business to investment affiliates of Fortress Investment Group of the USA. The sale, which is expected to close in the third quarter of 2011, is for a cash consideration of $187 million.
The business, known as BAE Systems Asset Management, is the world’s second largest regional jet lessor by fleet value and the tenth largest aircraft lessor by fleet size. It has 16 lease customers in 11 countries and is responsible for the management of 151 commercial aircraft owned by BAE Systems, which are included within the sale, plus the management of third party owned commercial aircraft on behalf of airlines and investors.
However, the support and engineering activities of BAE Systems Regional Aircraft are not included.