Jet Aviation to acquire Los Angeles-based Avjet CorporationMarch 9, 2016
Jet Aviation is expanding its aircraft management and charter services on the U.S. West Coast with the acquisition of Avjet Corporation, a global jet charter and management company based in Los Angeles, CA.
“Avjet’s 37-years of experience in aircraft management and charter services and impressive fleet of 45 aircraft makes it the perfect complement to Jet Aviation’s operations,” said Senior Vice President and General Manager of Jet Aviation U.S. Aircraft Services David Paddock. “This acquisition will also provide excellent benefits for Avjet’s customers by providing access to Jet Aviation’s global network of service facilities."
Avjet will be a key addition to Jet Aviation's aircraft management and charter operations, including locations in Teterboro, NJ; Van Nuys, CA; Zurich, Switzerland; Hong Kong, SAR, and Dubai, United Arab Emirates.
Avjet’s current chairman and CEO Marc Foulkrod will continue to own and operate the Avjet sales and brokerage division under the name Avjet Global Sales.
“This acquisition meets my plan to continue to expand our global sales, acquisition and brokerage services while allowing Jet Aviation to continue Avjet’s tradition of excellence in aircraft management and charter services,” said Foulkrod.
The closing of the acquisition is subject to certain governmental approvals, including relevant airport authorities. The value of the transaction has not been disclosed.