Geneva, Switzerland-based business aviation group PrivatAir has sold its US operation to the UK's Gama Holdings. PrivatAir says it is refocusing around its European operations.
The acquisition significantly boosts Farnborough-based business aviation services company Gama's presence in the USA, bringing its managed fleet to more than 60 aircraft. PrivatAir's US arm, rebranded Gama Aviation, will remain based in Stratford, Connecticut.
PrivatAir chief executive Greg Thomas says: "The current bouyancy in the US private aviation market makes it the perfect time to sell our US division." Following the sale, the Swiss company will "aggressively target new growth markets".
The USA "is a crucial market for any international business aviation company", says Gama chief executive Marwan Khalek. The company's activities include aircraft ownership and maintenance, charter services, aircraft management and medical transport.
PrivatAir's US arm was created in 2001 after the purchase of Connecticut-based Flight Services Group, which hold the certificate under which the managed aircraft are operated.
Source: FlightGlobal.com
