BAE Systems has sold its asset management business and commercial aircraft lease portfolio to New York management firm Fortress Investment Group for $187 million. BAE will transition 151 legacy aircraft to Fortress, a portfolio comprised of BAe 146 and Avro regional jets as well as Jetstream and ATP tur-boprops. However, BAE plans to retain its engineering and support services. Fortress plans to use the aircraft as a starting point for growing its overall commercial transport leasing portfolio.
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