BAe Asset Management-Jets (AMJ), the BAe 146 jet sales and leasing arm of British Aerospace, had another successful year in 1998, achieving sales and lease transactions valued at around US$238 million.
- Ten BAe 146s were sold during the year, for just over $100 million. Sales were made to Manx (one series 200), National Jet Systems (one series 100), WDL (one series 100), Formula One Administration (one series 100 for VIP use), and Lombard Leasing (two series 200s, which continue on lease to Eurowings), and ANZ Investment Bank (one series 200, which continues on lease to Ansett). A further three aircraft were sold to an as yet unannounced customer. The sales have reduced AMJ’s portfolio to 80 aircraft, down from 118 at the time of the division’s establishment in 1993.
- AMJ also arranged for the remarketing of five former Thai International series 300s (acquired by Jersey European) and three former Air Atlantic series 200s (on a lease-purchase agreement to Debonair).
- AMJ’s continued pursuing its core business of placing aircraft on quality long-term leases, securing eight new leases and 15 lease extensions, most for periods of between five and seven years. Lease transactions were made with Australian Air Express, Debonair, Jersey European, KLM uk, Malmö Aviation, and National Jet Systems.