STOCKHOLM , SWEDEN – GE Commercial Aviation Services (GECAS), working with its Lynxs Group affiliate, has contracted to acquire a 50% interest in Nordic Airport Properties (NAP). The remaining 50% is held by Swedish Airports and Air Navigation Services (LFV).
NAP has a portfolio of nine existing properties at the three major air cargo gateways of Sweden: Stockholm, Gothenburg, and Malmo airports. In addition, NAP plans to develop a number of additional cargo properties to accommodate strong growth in the Swedish market. The total transaction is valued at over $115 million, with a closing scheduled for mid July.
GECAS and LFV will consider cooperation in other areas than cargo properties.
GE Commercial Aviation Services (GECAS) is the commercial aviation financing and leasing business of GE and part of GE Infrastructure. GECAS has a fleet of 1,450 owned aircraft leased to more than 230 airlines in 70 countries, and manages over 300 aircraft for others. GECAS offers a wide range of aircraft types and financing options, including operating leases and secured debt financing, and also offers productivity solutions including spare engine leasing, and spare parts financing. GECAS has also expanded into airport infrastructure. GECAS has offices in 24 cities around the world. http://www.gecas.com
LFV is a Swedish State enterprise and a provider of airport services and is the national provider of air navigation services. LFV owns and manages 16 airports in Sweden, 2 air traffic control centres, and 38 air traffic control towers. In 2006, LFV’s airports handled 29.6 million passengers, over 400,000 metric tons of air cargo, and approx. 680,000 over-flights. For more information, visit the company’s Web site athttp://www.lfv.se
Lynxs Group, a GECAS affiliate based in Austin, Texas, is an international air cargo developer that currently owns and operates 12 air cargo facilities including: Austin, Texas, Houston Intercontinental Airport (IAH), Miami, Los Angeles, Chicago O’Hare (ORD), San Francisco, the Alaska CargoPort at Anchorage (ANC) and the Vienna, Austria Airport (VIE). http://www.lynxs.com