BAE in New Avro RJ Sale and Leaseback Deal With Brussels Airlines

(July 14, 2008) -- BAE Systems Regional Aircraft has signed contracts with the Belgian major carrier Brussels Airlines for the sale and leaseback of three Avro RJs operated by the airline.

This deal follows the major transaction concluded in May 2005 under which BAE Systems signed a contract to buy and then leaseback 23 of the airline's fleet of 26 Avro RJ85/100s. That deal required BAE Systems to acquire the aircraft in stages over a five- year period.

This new transaction covers the final three Avro RJ100s which were the last aircraft to be delivered to the airline in 1999 and were the subject of a separate financing structure, which meant that both parties elected to handle these aircraft separately.

Source : BAE Systems

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