BAE Systems Arranges Sale of Five Avianca MD83 Airlines

Hatfield, Hertfordshire, BAE Systems’ Asset Management team has arranged the sale of five Boeing MD83 airliners on behalf of Colombian flag carrier Avianca.

This follows the award of an exclusive remarketing mandate from Avianca in April 2009 for eight MD83 aircraft. Four of the aircraft have been sold to Jet Midwest Group of Kansas City, Missouri. Jet Midwest Group is a full-service commercial aircraft sales and leasing company founded in 1997 and has been instrumental in the acquisition and sale of over 150 commercial jet aircraft and over 250 jet engines.

The remaining aircraft has been sold to Sierra American Corporation, the leasing affiliate company for Ameristar Air Cargo, Inc. d/b/a/ Ameristar Charters, an FAA Part 121 Air Carrier company based at Dallas Addison Airport, Texas. Ameristar expects to operate the aircraft within its charter network which presently oversees more than 5000 air charters annually.

The remaining three aircraft under the original mandate have remained in service with Avianca, but will be released for sale imminently with delivery available in the first half of 2011.

About BAE Systems

BAE Systems is a global defence, security and aerospace company with approximately 107,000 employees worldwide. The Company delivers 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. In 2009 BAE Systems reported sales of £22.4 billion (US$ 36.2 billion).