Dublin, Ireland, April 29, 2010 – Babcock & Brown Air Limited (NYSE: FLY) ("B&B Air"), a global aircraft lessor, announced today that it had completed an $8.75 million investment in BBAM LP (“BBAM”), the company that manages its portfolio of 62 modern and fuel-efficient commercial jet aircraft. The investment in BBAM was originally announced on April 2nd.
BBAM, a new privately-held company formed by the former senior executives of Babcock & Brown Aircraft Management LLC, has acquired the majority of the aviation assets of Babcock & Brown Limited (“BBL”) and has hired the related staff. At the closing of the transaction, BBAM became the manager of over......
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