Mon, Dec 27, 2010
Company Says It Plans To Expand Services In 2011
AvStar Aviation Group has signed a Letter of Intent to acquire
a 33% interest in Aircraft Charters, LLC (Aircraft Charters).
Aircraft Charters is the owner of the aircraft currently leased to
and operated by AvStar’s wholly owned subsidiary Twin Air
Calypso Limited, Inc. The purchase is expected to close in January
of 2011.
The acquisition follows AvStar’s model of vertical
expansion in the aviation industry. Through Aircraft Charters,
AvStar will enter into the aircraft sales and leasing market, while
continuing to manage, operate and support the aircraft through
AvStar’s existing wholly owned subsidiaries Twin Air Calypso
Limited, Inc. and Twin Air Calypso Services, Inc. The Aircraft
Charter purchase and the “Affiliate” Program announced
earlier this month will allow the company to further provide a
total package of services to aircraft owners and operators.
“The Aircraft Charter acquisition further strengthens
AvStar’s position in the aviation industry. It also enhances
the balance sheet and opens new revenue streams, while increasing
current revenue and improving the cost structure of our existing
operations. When we approach aircraft, engine and avionics
manufacturers for sales and support dealerships, as well as
prospective customers, we can offer a completely integrated
organization.” said Clayton Gamber, CEO of AvStar Aviation
Group, Inc.
“As we enter 2011, AvStar is poised to expand our airline
operation with the return to service of two aircraft in January. We
will also expand our maintenance and repair organization with new
dealerships and enter the sales and leasing arena, while continuing
to search for additional acquisitions that meet our goals. I wish
all of our stockholders, customers, vendors and friends a joyous
holiday season and a prosperous 2011.” said Clayton Gamber,
CEO of AvStar Aviation Group, Inc.
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