Falko has arrived

The name Falko will probably mean nothing to the vast majority of readers, and will not for the future, but it is the sole surviving part of the once mighty British commercial aircraft industry. 

Falko is essentially an aircraft asset management company based on the old de Havilland site at Hatfield, offering, initially at least, a portfolio of 103 jets and 40 turboprops, the majority previously BAe aircraft. 

The business is now owned by Fortress Investment Group of New York which at the end of June 2011 had US$43.8bn under management.

“Our acquisition of the BAE Systems Asset Management business with the backing of the Fortress Investment Group of New York, will unleash the potential of a talented, experienced and ambitious team who will now focus on building a future rather than dealing with a legacy,” said Jeremy Barnes, Chief Executive Officer of the new company.  Mr Barnes was with Obis Capital, a specialist aerospace boutique company which he created in 2001.  He started his finance career with Citibank before joining the then BAe in 1993, and became Head of Corporate Finance before moving to XL Capital.

He added: “We have the support of a very powerful financial backer that has made a considerable investment in the business and is looking to deploy more capital to support and grow the business.  We are now free of past constraints and have greater scope to be entrepreneurial.” www.falko.com

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