Jet Aviation Acquired Hawker Pacific
Hawker Pacific, May 03, 2018 - BASEL - Jet Aviation announced today that it has completed its acquisition of Hawker Pacific, a leading provider of Civil MRO, Fleet and FBO Services, and Aircraft Sales across Asia Pacific and the Middle East.
The transaction is valued at US$250 million.
Rob Smith, president of Jet Aviation, said: “We are now in a position to further expand our current portfolio, enter new markets across Asia-Pacific and the Middle East, and offer more options and value to our customers worldwide. Bringing together these two well-established brands reinforces our position as one of the world’s leading business aviation service providers.”
As part of this acquisition, Jet Aviation will add 19 locations across Asia Pacific and the Middle East to its global network, including 7 FBOs, 14 MRO facilities and over 400,000 sq ft of hangar space.
More than 800 employees will also become a part of Jet Aviation. Jet Aviation, a wholly owned subsidiary of General Dynamics (NYSE: GD), was founded in Switzerland in 1967 and is one of the leading business aviation services companies in the world.
More than 4,800 employees cater to client needs from close to 50 facilities throughout Europe, the Middle East, Asia, North America and the Caribbean. The company provides maintenance, completions and refurbishment, engineering, FBO and fuel services, along with aircraft management, charter services and personnel services. Jet Aviation's European and U.S. aircraft management and charter divisions jointly operate a fleet of some 300 aircraft.
April 12, 2018 - Jet Aviation and Hawker Pacific today announced that Jet Aviation has entered into a binding agreement to acquire Hawker Pacific, a leading provider of integrated aviation solutions across Asia Pacific and the Middle East, for US$250 million.
Jet Aviation and Hawker Pacific today announced that Jet Aviation has entered into a binding agreement to acquire Hawker Pacific, a leading provider of integrated aviation solutions across Asia Pacific and the Middle East, for US$250 million.
"The acquisition of Hawker Pacific represents a significant step in expanding our footprint, capability and customer offer across Asia Pacific and the Middle East," said Rob Smith, president of Jet Aviation. "Hawker Pacific has a wide range of services including Civil MRO, Fleet Services, FBO Network and Aircraft Sales, enabling Jet Aviation to further expand its current portfolio, enter new markets, and reinforce the company’s position as one of the world’s leading business aviation service providers."
Alan Smith, CEO of Hawker Pacific said "We believe the company’s acquisition by Jet Aviation represents an excellent outcome for Hawker Pacific’s investors, employees and customers. It builds on our strong values and passion for exceeding our customer’s expectations and I, on behalf of the management, am confident that the combination of the two companies will create a clear leader in the aviation space."