Merger Creates New Commercial Jet Holding Company | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 07.23.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.23.14 **
** Airborne 07.21.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.21.14 **
** Airborne 07.18.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.18.14 **

Thu, Jan 27, 2011

Merger Creates New Commercial Jet Holding Company

Jetscape Aviation Company And M1 Tie The Knot

A new commercial jet holding company was created Wednesday when Jetscape Aviation Group completed a merger and restructuring transaction with M1 Commercial Jets, Ltd. (“M1CJ”). The Tortola based M1CJ was previously owned by M1 Leasing, a subsidiary of the private investment holding - M1 Group (“M1”).

Jetscape and M1CJ have successfully established a new holding company, Jetscape Aviation Group Ltd. (“JAG Ltd.”) based in the British Virgin Islands. JAG Ltd is now 57% owned by M1 Leasing, while Jetscape’s original shareholders maintain 43% of the holding. The shareholders have collectively subscribed to $37M in new equity capital.

The newly formed group will be run by Jetscape’s existing management team, lead by John Evans as Chairman and CEO, and will trade under the Jetscape brand. The JAG Ltd. Board of Directors will comprise four prior Jetscape directors along with five directors appointed by M1. As a result of the transaction, Jetscape has diversified its portfolio and the company’s capital base, revenue and earnings have more than doubled. With the merger, Jetscape has solidified its position as a global leader in the 70-120 passenger aircraft leasing market.

The combined group’s balance sheet will have approximately $560 million in total assets, $405 million in total liabilities and $155 million in shareholders’ equity.

JAG Ltd. owns and manages 35 aircraft on lease to 18 airline operators in 15 countries, including the ownership of 18 Embraer E-Jets on lease to 9 operators in 9 countries with a total average fleet age of less than 3 years. The group has a remaining firm order backlog with Embraer for four E-Jets, up to 10 purchase options and up to 10 purchase rights. All, but one, of the firmly contracted deliveries is committed for lease.

“M1 is a respected and successful global investor that brings a wealth of knowledge, experience and considerable capital resources to Jetscape," said John Evans, Jetscape’s Chairman and CEO. "The diversity of our shareholding group, which now includes our management team and high net worth investors from three continents, reflects the international market that we serve and remains a differentiating factor for Jetscape. In addition to their many investments, M1 is the largest private shareholder of Royal Jordanian Airlines (a Jetscape customer), thus a major contributor to Jetscape’s future success in the rapidly developing Middle Eastern and African aviation markets.”

FMI: www.jetscape.aero

Advertisement

More News

Trig Avionics Announces New ADS-B Out Solution

TN70 WAAS GPS Receiver Optimized For Use With Other Trig Avionics Trig Avionics is introducing its new TN70 WAAS GPS with companion Antenna, optimized for use with Trig products.>[...]

ANN's Daily Aero-Linx (07.25.14)

Aviation Digital Data Service The Aviation Digital Data Service (ADDS) makes available to the aviation community text, digital and graphical forecasts, analyses, and observations o>[...]

ANN's Daily Aero-Term (07.25.14): Pitch Point

A fix/waypoint that serves as a transition point from a departure procedure or the low altitude ground-based navigation structure into the high altitude waypoint system.>[...]

Aero-News: Quote Of The Day (07.25.14)

"The final rule is now planned for, I think its December of 2017. That is later than the statute, which calls for a final rule by the end of 2015." Source: FAA's Associate Administ>[...]

ANN FAQ: Disqus

A Powerful New Tool For You To Use For Your Aero-Conversations Want to start a conversation about a story you've seen on Aero-News? It's even easier with Disqus, a powerful, web-ba>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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