2007-06-10 - FSTA A330New RAF tanker and transport aircraft programme approved by UK MoD

Air Tanker sucht jetzt Geldgeber für A330-Leasingangebot<br /> On 6 June, UK Defence Minister Lord Drayson announced that the Government had approved a PFI solution as the most cost-effective way of replacing the RAF's fleet of VC-10 and TriStar aircraft.

The Ministry of Defence will now proceed towards the financial and contractual close of the FSTA (Future Strategic Tanker Aircraft) PFI deal with AirTanker Ltd. AirTanker Ltd is expected to begin the fund raising process shortly. Lord Drayson said: "FSTA will provide the RAF with a modern air-to-air refuelling and strategic air transport capability which is crucial in this era of expeditionary operations. It will replace the RAF's fleet of VC10 and TriStar aircraft. A PFI solution is the best way to provide our Armed Forces with significantly improved capability." "The Ministry of Defence and AirTanker Ltd will now work together to secure financial and contractual close on a PFI deal as quickly as possible."
AirTanker has begun work on the Financing Competition to raise the requisite c. £2Bn capital requirement. The first stage is to alert the banking community to the main elements of the programme. Commenting on Lord Drayson's Statement, AirTanker CEO Phill Blundell said: "This is a huge step forward for a vital project. We at AirTanker feel certain that the City will recognise the strength of the FSTA project. We are confident that the competition between potential lenders to win the business will secure the best deal for the armed forces, the taxpayer and AirTanker's shareholders. We are working very closely with our financial advisors at Deutsche Bank to secure that outcome."

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