Jet Aviation owner the Hirschmann family is negotiating with "several potential buyers" for the Swiss business aviation services company.
Merchant bank Goldman Sachs is to dispose of the company, which is valued at $485 million and has fixed-base operations worldwide and provides business aircraft management and charter services.
Jet Aviation says US investment company Berkshire Hathaway had initial talks but decided it was not interested in adding the company to its business aviation inventory, which includes fractional ownership operator NetJets.
Jet Aviation says that Goldman Sachs has been retained to "evaluate strategic options", and in the current state of the market, an outright sale, rather than a flotation, is likely. The Hirschmann family cannot give the company with the resources to stay competitive and selling out would allow a new owner to invest more, says Jet Aviation.
Jet Aviation reported SFr795 million ($539 million) in revenues in 2001, a drop from SFr841million in 2000.
Source: Flight International