Gama Aviation PLC Acquisition of Statesville Hangar Facility (5607D)
20 October 2022 - 8:36PM
UK Regulatory
TIDMGMAA
RNS Number : 5607D
Gama Aviation PLC
20 October 2022
20(th) October 2022
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Gama Aviation Plc (AIM: GMAA)
("Gama Aviation" or the "Company" or "Group")
Gama Aviation Acquires Statesville Hangar Facility to Accelerate
Jet East's Growth
Gama Aviation Plc, the global aviation services provider, has
acquired through its wholly owned US subsidiary, Jet East, a
maintenance, repair and overhaul ("MRO") hangar facility in
Statesville, North Carolina, adding to its extensive coast-to coast
maintenance network.
The c. 90,000 sq ft facility, comprising a c. 55,000 sq ft
hangar plus c. 35,000 sq ft of workshops and offices has been
acquired for a cash consideration of $3.5m. The Group is expected
to invest a further $1.5m in equipping and standing up the facility
with the investment being funded from the Group's existing cash
resources and facilities.
Simultaneously, the Group has also secured a long-term ground
lease from Statesville Airport for the site on which the hangar is
located, allowing for the future growth of the facility.
This strategically important investment adds significant scale
to Jet East's MRO network to deliver the Company's organic growth
targets. The new facility will be focused on providing major
maintenance inspections and aircraft system upgrades . It is
expected to be operational in Q1 2023.
Stephen Maiden, President, Jet East, commented: "The five-year
strategic growth plan for Jet East, required the further
development of its MRO footprint. The Statesville site delivers a
world class facility that offers us an excellent blend of space,
capability, and scope for expansion in a location complementary to
our network with a strong local pool of engineering talent. This
new facility will allow us to further penetrate the business
aviation MRO market and supplement the excellent relationships we
have built through our existing network."
Marwan Khalek, Group CEO, Gama Aviation Plc, commented: "The
acquisition of the hangar in Statesville demonstrates our
commitment to, and focused growth strategy in, the US, the world's
largest business aviation market. Once operational, the new
facility will further diversify Jet East's service offering,
increasing the resilience of its business model and driving growth;
further enhancing shareholder value from our US operations".
END
Gama Aviation Plc +44 (0) 1252 553 029
Marwan Khalek, Chief Executive
Camarco +44 (0) 20 3757 4992
Ginny Pulbrook
Geoffrey Pelham-Lane
WH Ireland +44 (0) 207 220 1666
James Joyce
Ben Good
Gama Aviation - Notes to Editors
Founded in 1983 with the simple purpose of providing aviation
services that equip its customers with decisive advantage, Gama
Aviation Plc (LSE AIM: GMAA) is a highly valued global partner to
blue chip corporations, government agencies, healthcare trusts and
private individuals.
The Group has three global divisions: Business Aviation
(Aircraft Management, Charter, FBO & Maintenance), Special
Mission (Air Ambulance & Rescue, National Security &
Policing, Infrastructure & Survey, Energy & Offshore); and
Technology & Outsourcing (Flight Operations, FBO, CAM software,
Flight Planning, CAM & ARC services)
More details can be found at: http://www.gamaaviation.com/
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October 20, 2022 05:36 ET (09:36 GMT)
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