Nimbus Group is planning to merge with a Miami-based company which is setting up a regional fractional ownership programme using BAe Jetstream 31/32s. Nimbus's own hopes of setting up a nationwide air taxi system were dashed in July when Eclipse Aviation terminated its 1,000-aircraft order for Eclipse 500 personal jets after the company was unable to raise the required deposit.
Nimbus has signed a letter of intent to merge with Horizons Aviation in a stock-swap deal that will give Horizons a controlling stake in the Fort Lauderdale-based firm and result in a change of Nimbus management.
Horizons chairman and chief executive, Omar Botero, says: "Nimbus has a good concept, which, if properly structured, could be interesting." He has followed the various "mini-jet" development programmes and believes Eclipse is "at the forefront", but there have been no discussions with the manufacturer. He adds: "We will leave our options open."
To support its strategy for entering the fractional ownership market, last year Horizons formed engine maintenance company Turbine Support International (TSI) via several smaller acquisitions. In January, the company acquired aircraft management company Central Air Charter. Both it and TSI are based in Vero Beach, Florida. The companies will support Horizons' Affinity AirShares fractional programme due to start next January.
"Horizons was created to make corporate aircraft more accessible to mid-sized companies," says Botero, an entrepreneur who established overnight express and telecommunications companies with links into Latin America. The maintenance and charter company buys are intended to tackle maintenance scheduling, which Botero calls the "achilles heel" of fractionals.
Source: Flight International
