Babcock & Brown Aircraft Management Announces Three Aircraft Leases

SAN FRANCISCO, May 14 /PRNewswire-FirstCall/ -- Babcock & Brown Aircraft Management LLC, the world's fifth largest lessor of commercial aircraft, today announced it has leased aircraft to three airlines.

Aeroflot Don, based in Russia, leased one ex-British Midland Boeing B737-500 for a term of five years. The aircraft, MSN 25160, is powered by CFM56-3C1 engines. The aircraft was delivered in March 2008.

Aeroflot Nord, based in Russia, leased one ex-CSA Boeing B737-500 for a term of five years. The aircraft, MSN 25065, is powered by CFM56-3C1 engines. The aircraft was delivered in April 2008.

Transavia.com, based in the France, took delivery of one new Boeing B737-800 with a lease term of six years. The aircraft, MSN 29650, is powered by CFM56-7B24 engines. It was delivered in April 2008.

About Babcock & Brown Aircraft Management

Babcock & Brown Aircraft Management LLC (BBAM) manages the world's fifth largest commercial jet fleet by value and has more than 17 years of experience in aircraft origination and disposition, remarketing, leasing and technical management. BBAM, a division of Babcock & Brown, serves as an aircraft lessor, lease manager and remarketing agent. BBAM has a fleet of over 280 commercial aircraft with a total value of more than $7.3 billion that are leased to 72 airlines in 31 countries around the world. BBAM is the servicer of Babcock & Brown Air NYSE: FLY.

About Babcock & Brown

Babcock & Brown is an international investment and specialized fund and asset management group with longstanding capabilities in structured finance and the creation, syndication and management of asset and cash flow-based investments. Babcock & Brown was founded in San Francisco in 1977 and is listed on the Australian Securities Exchange.

Babcock & Brown operates from 30 offices across Australia, North America, Europe, Asia, United Arab Emirates and Africa and has in excess of 1,400 employees worldwide. Babcock & Brown has four operating divisions including real estate, infrastructure, operating leasing, corporate and structured finance.

The company has established a funds management platform across the operating divisions that has resulted in the creation of a number of focused investment vehicles in areas including real estate, renewable energy and infrastructure. For further information about Babcock & Brown please see our website: http://www.babcockbrown.com.

     Further Information:
     Matt Dallas
     Babcock & Brown
     +1 212-796-3918
     matt.dallas@babcockbrown.com