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 04.23.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.23.14 **
** Airborne 04.21.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.21.14 **
** Airborne 04.18.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.18.14 **

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

Classic Aero-TV: Aero-Statesman Phil Boyer – Representing The Aviation Community

Retired AOPA President Still Understands What An Association Must Do To Serve An Embattled Industry Originally WebCast October 18, 2012: Its been nearly four years since Phil Boyer>[...]

AD: Ballonbau Wörner GmbH Balloons

AD NUMBER: 2014-07-10 PRODUCT: Ballonbau Wörner GmbH Models NL-280/STU, NL-380/STU, NL-510/STU, NL-640/STU, NL-840/STU, and NL-1000/STU balloons.>[...]

Airshow Pilot Bails Out After Catastrophic Aircraft Failure

Planning Ahead And Staying Safe Saves A Professional Airshow Pilot Dan Marcotte describes himself on his website as being determined and driven with a sense of vision. His adventur>[...]

ANN FAQ: Share Aero-News With Your Friends

Send Them A Story -- We Don't Mind! Do you need another set of eyes to see that story you can't believe Jim just wrote? Want to spread Hognose's unique wisdom and perspective to th>[...]

AD: Centrair Gliders

AD NUMBER: 2014-07-08 PRODUCT: Centrair Model 101, 101A, 101AP, and 101P gliders.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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