US-based engine lessor Willis Lease Finance has signed an agreement with the asset management arm of BAE Systems' regional aircraft division, under which the latter will provide pre-owned aircraft acquisition, remarketing and lease management services.
BAE said last month that it was eager to expand its asset management operation.
However, the company does not intend to stay in the regional aircraft business and does not plan to invest heavily in the operation going forward.
As part of the agreement with Willis, BAE will identify suitable aircraft for the engine lessor to acquire under its strategy to enter the pre-owned aircraft acquisition market.
BAE will also assist with remarketing the aircraft.
In 2010, BAE's asset management division placed 52 aircraft with operators - an increase on the 44 placed in 2009.
Source: Air Transport Intelligence news
