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 Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 09.26.16

Airborne 09.27.16

Airborne 09.21.16

Airborne 09.22.16

Airborne 09.23.16

Airborne Hi-Def On YouTube

Airborne 09.26.16

Airborne 09.27.16

Airborne 09.21.16

Airborne 09.22.16

Airborne 09.23.16

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

AeroSports: EAA Surpasses 200,000 Members

The Association Continues To Grow And Engage Flying Enthusiasts EAA has reached a major milestone, as the association has surpassed 200,000 members. It appears that more and more p>[...]

Klyde Morris (09.26.16)

Klyde Can't Miss The 'TSA Obnoxious Olympics' FMI: www.klydemorris.com>[...]

Airborne 09.23.16: GA Pilot Sues SFO, Drone Legalities, EAA Hall Of Fame

Also: Zenith Open Hangar Days, KSMO Nonsense, Recalled Devices, Piper M600, 800th TBM, NASAO, Commercial Space The pilot of the last piston airplane based at San Francisco Internat>[...]

Aero-News: Quote of the Day (09.26.16)

"At this stage of the investigation, preliminary review of the data and debris suggests that a large breach in the cryogenic helium system of the second stage liquid oxygen tank to>[...]

SpaceX On Track To Determining AMOS-6/Falcon 9 Accident Cause

'Anomaly' Resulted In Loss of Rocket, Payload and Extensive Launch Complex Damage As promised, SpaceX is starting to reveal details of their investigation into the catastrophic los>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC