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| Date: 11 July, 2005 |
BAE Systems Regional Aircraft has transacted further BAe 146 and ATP lease business with Philippine domestic carrier Asian Spirit, cementing a growing commercial relationship that started only two years ago.
The latest deals are:
- the long-term lease of BAe 146-200 (E2034). This aircraft is due for delivery to Asian Spirit in mid-July;
- a lease extension on ATP (2055) that will see the aircraft continue in service for many more years.
Asian Spirit was set up by a team of experienced former Philippine Airlines management following deregulation of the local air transport industry. Operations commenced in April 1996 and Asian Spirit today provides scheduled domestic services from its base at the capital Manila linking to some 18 destinations across the country.
The airline's first transaction with BAE Systems was in late 2003 for two ATP turboprops and this was followed earlier this year with a deal for four BAe 146 jetliners, the first of which was delivered in late January. At the time of this BAe 146 transaction Asian Spirit had the right to return the ATP upon delivery of the fourth BAe 146 in 2006, but the airline has decided that the performance, reliability and economics of the ATP merits its continued operation for many more years.
The arrival of the first BAe 146 has further helped to stimulate traffic growth and has provided an effective competitive response to other airlines with high-frequency, cost-effective services. This has led Asian Spirit to request extra jet capacity ahead of the planned delivery of the second of the four BAe 146s later this year and BAE Systems was in a position to respond positively.
Executive Vice President of Asian Spirit, Jack Po, said today: “ Since we started operating BAE Systems aircraft two years ago traffic has increased significantly on the routes where the more modern newer aircraft has replaced our older equipment. We needed the extra jet capacity and were pleased that BAE Systems could respond so positively.”
About BAE SYSTEMS Regional Aircraft
BAE Systems Regional Aircraft is responsible for Customer Support, Engineering and Asset Management activities covering a world-wide 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.
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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