Swiss-based Jet Aviation has completed the buy-out of general aviation company Hawker Pacific, Jet Aviation announced yesterday.
First announced in April this year, the acquisition has been valued at US$250 million.
Rob Smith, president of Jet Aviation, said: “We are now in a position to further expand our current portfolio, enter new markets across Asia-Pacific and the Middle East, and offer more options and value to our customers worldwide. Bringing together these two well-established brands reinforces our position as one of the world’s leading business aviation service providers.”
As part of this acquisition, Jet Aviation will add 19 locations across Asia Pacific and the Middle East to its global network, including seven fixed-base operations, 14 maintenance, repair and overhaul facilities and over 400,000 sq ft of hangar space. More than 800 employees will also become a part of Jet Aviation.
Hawker Pacific has several fixed-base operations in Australia and New Zealand specialising in corporate jet and maintenance facilities. The company also has defence support contracts and is the Asia Pacific agent for Cessna, Beechcraft, Bell and Diamond.
Jet Aviation was founded in Switzerland in 1967 and has over 4000 employees operating from 30 airports throughout Europe, the Middle East, Asia, North America and the Caribbean. The company provides maintenance, FBO and fuel services, along with aircraft management, charter services and personnel services.