Global aero-engine lessor Willis Lease Finance
has selected BAE Systems Asset Management, part of British defense
and aerospace giant BAE Systems, to provide pre-owned aircraft
acquisition and lease management services.

The move follows plans by Novato,
California-based Willis Lease to complement its existing engine
leasing activities. BAE Systems Asset Management will research and
identify suitable aircrafts for acquisition, as well as assisting
with commercial and technical evaluation of the aircraft.

Under the terms of the agreement, BAE Systems
will also provide remarketing and lease management services,
including refurbishment management, mid-lease and re-delivery

Willis Lease chief executive Charles Willis
said: “As aircraft age, the primary value of the asset increasingly
concentrates in the engines. The expertise in aviation assets and
leasing fundamentals that BAE Systems provides will complement our
own skill sets nicely. We expect they will help broaden our
abilities to capitalize on opportunities in the pre-owned aircraft

BAE Systems Asset Management has a current
portfolio of 150 aircraft operated by 34 airlines in 20 countries
worldwide. It has been operating in lease portfolio management
since 1993.

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