20 Jan 2010 | Ref. 008
BAE Systems announces that it has secured an agreement from Condor Flugdienst GmbH of Germany to provide exclusive remarketing services for the sale and leaseback of its fleet of 13 Boeing 757-300 airliners.
All the aircraft will remain in operation with Condor, which has mandated BAE Systems specifically to remarket the fleet to financial institutions and leasing companies for sale and lease-back to the airline.
Hamish Davidson, Executive Vice President Business Development for BAE Systems Asset Management business said today: “This is a major mandate from Condor Flugdienst, one of the world’s most respected leisure and charter airlines. It will allow us to exploit our extensive understanding and knowledge of the aviation finance and leasing industries for the benefit of our client.”
Condor is a major German airline and is part of Thomas Cook plc – one of the world’s leading leisure travel groups with sales of £9.3 billion, 22.3 million customers, 31,000 employees, a fleet of 93 aircraft, a network of over 3,400 owned and franchised travel stores and interests in 86 hotels and resort properties.
About BAE Systems
BAE Systems is the premier global defence, security and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. With approximately 105,000 employees worldwide, BAE Systems' sales exceeded £18.5 billion (US $34.4 billion) in 2008.
For further information contact:
David Dorman, BAE Systems
Tel: +44 (0) 1582 488336 Fax: +44 (0) 1582 488447
Mobile: +44 (0) 7831 135526 Email: david@dorwaypr.co.uk
Issued by:
BAE Systems plc,
Farnborough, Hampshire GU14 6YU,
UK Tel: +44 (0) 1252 384605
Fax: +44 (0) 1252 383947;
24hr media hotline: + 44 (0) 7801 717739
