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| Date: 20 May, 2005 |
BAE Systems Regional Aircraft has signed contracts with the Belgian major carrier
SN Brussels Airlines for the sale and leaseback of 23 of the airline’s fleet of 26 Avro RJ85/100 jetliners.
The deal will see BAE Systems Regional Aircraft acquire the aircraft in stages over the next five years with long-term leases back to SN Brussels Airlines. The RJ fleet will remain a core part of the SN Brussels fleet into the next decade.
"This is yet another significant endorsement of the BAe 146/Avro RJ family”, said Alan Fraser, Managing Director of Regional Aircraft. “Coming on top of the recent lease transactions with the airlines of Lufthansa Regional, this latest deal with SN Brussels Airlines ensures the BAe 146/Avro RJ will remain in front line service with key European carriers for many years to come."
A number of large airlines have taken the view that new regional jets offer only marginal improvement over modern used regional jets – and in some cases less operational capability – but entail significant risk in terms of financial exposure and commitment period – this at a time of considerable market uncertainty, especially in the regional sector with the ferocious competition from the low-cost carriers.
The Avro RJ is the backbone of the SN Brussels Airlines regional fleet that, together with six BAe 146 aircraft, service an extensive European network linking the important Brussels hub with some 46 destinations in 19 countries. The airline also operates three Airbus A319s on longer European and Middle Eastern routes and three Airbus A330-300s on intercontinental services.
Mr. Michel Meyfroidt, Member of the Management Board of SN Brussels Airlines said today: " We undertook a deep study of the Avro RJ in comparison with the newer regional jets that were being offered to us. Our conclusion is that for SN Brussels Airlines the Avro product is the most cost-effective solution to meet our regional jet requirements. Our passengers love to fly in the aircraft and we are happy to continue operating it for many more years."
About BAE SYSTEMS Regional Aircraft
BAE SYSTEMS Regional Aircraft is responsible for Customer Support, Engineering and Asset Management activities covering a worldwide base of 160 customers operating over 1,100 aircraft in addition to managing a trading and leasing portfolio of some 350 aircraft.
About BAE SYSTEMS
BAE SYSTEMS is an international company engaged in the development, delivery and support of advanced defence and aerospace systems in the air, on land, at sea and in space. The company designs, manufactures and supports military aircraft, surface ships, submarines, fighting vehicles, radar, avionics, communications, electronics and guided weapon systems. It is a pioneer in technology with a heritage stretching back hundreds of years. It is at the forefront of innovation, working to develop the next generation of intelligent defence systems.
BAE SYSTEMS has major operations across five continents and customers in some 130 countries. The company has more than 90,000 people and generates annual sales of approximately £12 billion through its wholly owned and joint venture operations.
BAE Systems, innovating for a safer world.
For further information contact:
David Dorman, BAE Systems
Tel: +44 (0)1582 488336 Fax: +44 (0)1582 488447 ddaviddorman@aol.com
Issued by:
BAE Systems, Farnborough, Hampshire, GU14 6YU, UK
Tel: +44 1252 384695 Fax: +44 (0) 1252 383947
www.baesystems.com
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