BAE Systems announced today an agreement to sell its commercial aircraft lease portfolio and asset-management business to investment affiliates of New York-based Fortress Investment Group for $187 million in cash. Expected to close in the third quarter, the sale remains subject to regulatory approval and “other conditions.”
Business aircraft operators planning to fly to the UK for next summer’s Olympic Games are being encouraged to make early requests for mandatory landing and takeoff slots at airports in what will be heavily restricted airspace in southeast England.
Business aircraft operators planning to fly to Britain for next summer’s Olympic Games are being encouraged to make early requests for mandatory landing and takeoff slots at airports in what will be heavily restricted airspace in the southeast of England.
BAE Systems (Stand 751) and design consultancy Design Q have unveiled their latest interior concept for the Avro Business Jet: the ABJ Elegante.
UK operator PremiAir is at EBACE (Stand 843) showcasing its private jet and executive helicopter management and charter services. The company also provides maintenance for both fixed-wing and rotary aircraft and operates a Hawker Beechcraft service center at Oxford Airport.
Aviation services provider Weston Aviation has finalized a deal with Humberside International Airport authorities to open the first dedicated FBO at the airport on the east coast of England at the beginning of June.
Two semi-official reports have criticized support arrangements for the UK Royal Air Force Eurofighter Typhoon fleet. The UK National Audit Office (NAO) said that the four-nation collaborative contracts were complicated, and had resulted in “shortages of spares and long timescales for equipment repair.” The Parliamentary Accounts Committee (PAC) referred to “a very complex supply chain that stretches all over Europe.”
British businessman and entrepreneur Lord Sugar, a 25-year veteran of business aircraft ownership, touted the benefits of aircraft at the BBGA gathering. Sugar told members that owning an aircraft had enabled him to spend one day a week in Denmark, leaving London at 6 a.m. to work an eight-hour day in his Danish office.
BP has sold its share in Epic Aviation to Dallas-based aviation fuel services provider Downstream Aviation. Epic, which operates as Air BP Aviation Services, supports the fuel and business needs of the approximately 400 branded FBOs in the Air BP network. BP and Downstream have entered into an exclusive brand and supply agreement whereby Epic will continue to provide general aviation fuels under the Air BP brand in the U.S. and Canada.
BAE Systems’s asset management division has reported an uptick in demand for its portfolio of pre-owned Avro RJ and 146 regional jets. The UK-based group is also taking on more contracts to remarket other manufacturers’ aircraft and is seeing growth in its product support and engineering activities.