Prestwick, Scotland — The sale of the BAE Systems portfolio of aircraft and associated Asset Management business team to affiliates of certain funds managed by Fortress Investment Group LLC was completed on Friday 15 July 2011, with BAE Systems Regional Aircraft remaining as the foremost provider of support and engineering services for these aircraft.

The purchaser of the BAE Systems Asset Management business, Falko Regional Aircraft Limited, and its affiliates commence business with a portfolio of BAE Systems-built regional aircraft, including the BAe 146/Avro RJ regional jets, the ATP and Jetstream family of turboprops, plus the management of third party owned commercial aircraft.

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.

In addition, BAE Systems Regional Aircraft retains a substantive engineering capability, which is also currently deployed on third party opportunities and which can be made available to Falko as required.

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.”

BAE press release