Posting Strong Results, Gama Talks of More Acquisitions

Business aviation services group Gama Aviation today reported strong financial performance in its first published results as a public company since it completed its reverse takeover of aircraft management and charter operator Hangar8 plc in January 2015. For the year ending December. 31, 2015, the UK-based group achieved revenues of $413.1 million (15.1 percent up on the previous year), gross profits of $62.4 million (27.6 percent up) and a gross profit margin of 15.1 percent (compared with 13.6 percent).

Commenting on the results, Gama CEO Marwan Khalek indicated that the group may be looking to make more acquisitions that might range from “small bolt—-on acquisitions to larger and more transformational ones.” Earlier this year, Gama bought the Aviation Beauport FBO on the island of Jersey. The company also cited strong revenue and margin improvements from its U.S. operations, including the flights it operates for private aviation membership program Wheels Up.