FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For July 11, 2002
AERCO LIMITED
22 Grenville Street
St. Helier
Jersey, JE4 8PX
Channel Islands
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No X
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INDEX TO EXHIBITS
Item
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1. Press Release dated July 7, 2002
Page 2 of 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated: July 11, 2002
AERCO LIMITED
By: /s/ Sean Brennan
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Name: Sean Brennan
Title: Attorney-in-Fact
Page 3 of 3
Item 1
July 7, 2002
AerCo Limited
Press Release
Patrick Dalton resigned as a Class E Note Director of AerCo Limited (the
"Company") on June 28, 2002 upon his ceasing to be an employee of debis
AirFinance Ireland plc. On July 3, 2002, debis AirFinance Ireland plc appointed
John McMahon and Sean Brennan as Class E Note Directors of the Company.
John McMahon has been working in the aviation industry for 15 years. He
received a Bachelors degree in Engineering from the National University of
Ireland in 1983 and has post-graduate qualifications in Accounting and Finance
(Association of Chartered Certified Accountants), Management and Computer
Modelling and Simulation (both University of Dublin). He started as consulting
engineer in 1983 with Gibson O'Connor, joined Aer Lingus in 1986 where he
became the Fleet Planning Manager, and joined GPA Group plc in 1990, where he
worked as Director of GPA Capital and Director of GPA Japan for a total of four
years. After taking over responsibility as VP Capital Markets with GECAS until
end of 1995, John McMahon became member of the project team responsible for
setting up debis AirFinance in 1995. Prior to his promotion to Managing
Director of debis AirFinance in February 2000, he held the position of Senior
Vice President Commercial and Business Development.
Sean Brennan, Senior Vice President, Sales and Marketing, debis
AirFinance, has been working in the aviation financial services industry for 18
years. A qualified lawyer, Sean Brennan worked for GPA Group plc from 1983-1993
in various operations-related roles and ultimately as Head of Contracts
Management. From 1993 to 2000 he worked for GECAS where he was Senior Vice
President, Contracts. He joined debis AirFinance in January 2001.
Pursuant to the Company's articles of association, the Class E Noteholder,
currently debis AirFinance Ireland plc, may appoint up to two Class E Note
Directors provided that at all times Class E Note Directors must be a minority
of the Company's directors. Pending the appointment of a replacement for
Frederick Bradley, who resigned as Chairman and Director of the Company in
October 2001, in order to preserve a majority of independent directors on the
Board, the debis AirFinance Ireland representation on the Board had been
reduced to one Director. Peter A. Sokell was subsequently appointed to succeed
Mr. Bradley as an independent director. There are currently three independent
directors, G. Adrian Robinson, the chairman, Kenneth N. Peters and Peter A.
Sokell.
1
Any questions regarding this press release should be directed to Sean
Brennan at +353 61 723 612.
2