Under this agreement, TES will provide comprehensive technical and commercial engine management for the Airbus Asset Management portfolio.

Airbus, like many operating lessors, has taken the strategic decision to manage its engine assets separately from the airframe. With engine values comprising a significant proportion of the total aircraft value and asset financial risk, it has become essential for customers like Airbus to contract with an engine portfolio management specialist to manage this exposure.

“The addition of Airbus is a major step forward for TES, and is testament to the hard work and dedication of our Program Management team,” said Ashley Cooper, Managing Director & CEO of TES Aviation Group, parent company of Total Engine Support Ltd.

Lionel van Buylaere, Engineering Business Manager with Total Engine Support Ltd, who pioneered the program with Airbus said “We are committed to supporting Airbus in the proactive management of their Asset Management portfolio, and are delighted and honoured to have them as a TES customer. Winning this contract with a prestigious and well-known client, such as Airbus, really strengthens TES’ position as the worlds’ leading independent professional asset manager of aircraft engines.”

TES increased their long-term managed engine portfolio to 781 engines during 2003 with the addition of major contracts with San Francisco based GATX Capital and Pegasus Aviation. The addition of the Airbus program sees the TES managed engine portfolio exceeding 1200 engines and positions TES as the leading, and largest, provider of professional engine asset management services.

Total Engine Support Ltd was founded in 1995 by Ashley Cooper and Bob James, former employees of Rolls-Royce & General Electric. Since then, the company has grown to a staff of 41, and has secured long-term contracts with a number of prestigious clients such as Tombo Aviation, a subsidiary of the Japanese bank Mitsui; Willis Lease Finance Corporation and Engine Lease Finance Corporation, the largest independent engine leasing companies; and low cost operators easyJet (UK), WestJet (Canada) and Virgin Blue (Australia)

More information on Airbus @ www.airbus.com

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