BAe-AMJ has record year

BAe’s Asset Management Jets (AMJ) achieved sales and lease transactions valued at close to US$290 million (UKP180 million) during 1997. AMJ continued its policy of selective disposals of aircraft from the portfolio, selling 12 aircraft during the year, for just over US$105 million. Sales were made to Air Atlantic, British Regional Airlines, Eurowings, Jersey European, and Titan, the ANZ Investment Bank (two aircraft on lease to QANTAS), and Moncrief Oil of Texas (for corporate use). These sales reduced BAe-AMJ’s portfolio to 97 aircraft. Two additional sale transactions are expected to be announced shortly. AMJ also continued its strategy of placing aircraft on long-term leases with strong regional operators. A total of 31 lease transactions worth nearly $185 million were completed during the year, to customers such as Aer Lingus Commuter, Air Wisconsin, British Regional Airlines, Eurowings, and Jersey European. Of these, 19 were new leases and 12 were lease extensions.

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