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Press Release
FOR IMMEDIATE RELEASE
FOCUS AVIATION SELLS DHC-8-102 ON BEHALF OF UNION BANCAL LEASING CORPORATION
Focus Aviation is pleased to announce that it has sold a DHC-8-100 aircraft to Avmax Aircraft Leasing, on behalf of UnionBanCal Leasing Corporation.
UnionBancCal Leasing is an affiliate of Union Bank of California, which is one of the 25 largest banks in the United States. Headquartered in San Francisco, the bank has nearly 10,000 employees working from 315 banking offices throughout California and other States. Union Bank’s holding company is UnionBanCalCorporation, which is partly-owned by The Bank of Tokyo-Mitsubishi. Its stock is listed on the New York Stock Exchange.
The aircraft, serial number 304, is the second DHC-8-100 that Focus has sold to Avmax Aircraft Leasing (AAL), a division of Avmax Group Inc. Based in Calgary, Avmax Group Inc is a aircraft heavy maintenance and servicing company. The aircraft will join the fleet of regional 1, also an Avmax Group company, that operates an all-DHC-8-100 fleet on charter and wet lease work.
The aircraft had been leased to Horizon Air since 1991. The Asset Management division of Focus Aviation managed its return off lease last month. Horizon Air is an affiliate of Alaska Airlines, which will celebrate its 75th anniversary in 2007. Together Horizon and Alaska Airlines serve more than 80 cities in the USA, Canada and Mexico.
Simone Hofford, a Focus Aviation Vice President responsible for the project with UnionBanCal Leasing, states: “Although Focus Aviation is renowned for its jet aircraft sales activities and its asset management services, it has always remained active in the turboprop market since the start of the company in 1978. Indeed the company was formerly called Fortis Prop Jet. There is continued good demand for turboprop aircraft in the regional aviation market due to the stable regional market traffic, the soaring price of crude oil and to the pursuit by airlines to continue to drive their costs down.”
Further information on Union Bank of California, Avmax Group and Horizon Air can be found at www.uboc.com, www.avmax.ca and www.alaskaair.com respectively.
UnionBancCal Leasing is an affiliate of Union Bank of California, which is one of the 25 largest banks in the United States. Headquartered in San Francisco, the bank has nearly 10,000 employees working from 315 banking offices throughout California and other States. Union Bank’s holding company is UnionBanCalCorporation, which is partly-owned by The Bank of Tokyo-Mitsubishi. Its stock is listed on the New York Stock Exchange.
The aircraft, serial number 304, is the second DHC-8-100 that Focus has sold to Avmax Aircraft Leasing (AAL), a division of Avmax Group Inc. Based in Calgary, Avmax Group Inc is a aircraft heavy maintenance and servicing company. The aircraft will join the fleet of regional 1, also an Avmax Group company, that operates an all-DHC-8-100 fleet on charter and wet lease work.
The aircraft had been leased to Horizon Air since 1991. The Asset Management division of Focus Aviation managed its return off lease last month. Horizon Air is an affiliate of Alaska Airlines, which will celebrate its 75th anniversary in 2007. Together Horizon and Alaska Airlines serve more than 80 cities in the USA, Canada and Mexico.
Simone Hofford, a Focus Aviation Vice President responsible for the project with UnionBanCal Leasing, states: “Although Focus Aviation is renowned for its jet aircraft sales activities and its asset management services, it has always remained active in the turboprop market since the start of the company in 1978. Indeed the company was formerly called Fortis Prop Jet. There is continued good demand for turboprop aircraft in the regional aviation market due to the stable regional market traffic, the soaring price of crude oil and to the pursuit by airlines to continue to drive their costs down.”
Further information on Union Bank of California, Avmax Group and Horizon Air can be found at www.uboc.com, www.avmax.ca and www.alaskaair.com respectively.
Last modified: 16 May 2006