General Dynamics To Acquire Jet Aviation For $2.25 Billion | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 09.17.14 ** HD iPad-Friendly -- Airborne 09.17.14 **
** Airborne 09.15.14 ** HD iPad-Friendly -- Airborne 09.15.14 **
** Airborne 09.12.14 ** HD iPad-Friendly -- Airborne 09.12.14 **

Tue, Aug 19, 2008

General Dynamics To Acquire Jet Aviation For $2.25 Billion

Aims To Create Worldwide Bizjet Support Network

General Dynamics announced Tuesday it has agreed to acquire Zurich, Switzerland-based Jet Aviation for approximately $2.25 billion in cash, in a move aimed at strengthening the company's presence in the lucrative international business jet service market.

The proposed acquisition -- already approved by the boards of directors at General Dynamics and Jet-owner Dreamliner Lux S.a.r.l. -- is subject to normal regulatory approvals, and is expected to close by the end of 2008.

"We are delighted to be acquiring Jet Aviation and partnering with the current management team to continue its success. Under the Permira Funds' ownership, Jet Aviation has become a global market leader in business-aviation services; as a unit of General Dynamics, Jet Aviation will support one of our core growth areas," said Nicholas D. Chabraja, General Dynamics chairman and CEO.

Jet Aviation was founded in Switzerland in 1967 and is one of the world's leading business-aviation services companies. Close to 5,600 employees cater to clients' needs from 25 airport facilities throughout Europe, the Middle East, Asia and North and South America. Services provided include maintenance, repair and overhaul; completions and refurbishments; engineering; fixed base operations (FBO); along with aircraft management, flight support and global executive-jet charter services; aircraft sales and acquisitions and personnel services. In the past three years, under the control of the Permira Funds, Jet Aviation has developed from a family owned business to a global leader in business aviation services.

Following completion of the acquisition, Jet Aviation will continue serving the entire aircraft manufacturing community and its global client base as a new business unit within the General Dynamics Aerospace group operating under the Jet Aviation and Midcoast Aviation brands.

FMI: www.jetaviation.com, www.generaldynamics.com

Advertisement

More News

AD: Bombardier, Inc. Airplanes

AD NUMBER: 2013-15-06 PRODUCT: Certain Bombardier, Inc. Model DHC-8-102, -103, -106, -201, -202, -301, -311, and –315 airplanes.>[...]

AD: Dassault Aviation Airplanes

AD NUMBER: 2013-26-05 PRODUCT: All Dassault Aviation Model FAN JET FALCON, FAN JET FALCON SERIES C, D, E, F, and G airplanes; Model MYSTERE-FALCON 200 airplanes; and Model MYSTERE->[...]

ANN's Daily Aero-Linx (09.17.14)

Learn to Fly Blog This blog features writings by aviation authors and flight instructors.>[...]

ANN's Daily Aero-Term (09.17.14): Base Turn

A turn executed by the aircraft during the initial approach between the end of the outbound track and the beginning of the intermediate or final approach track.>[...]

Aero-News: Quote Of The Day (09.17.14)

“In the near future, general aviation manufacturers will be able to certify their products more efficiently and effectively, meaning more safety in more airplanes.” Sou>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC