Jet Aviation Completes Hawker Pacific Acquisition

General Dynamics subsidiary Jet Aviation has completed its acquisition of business aviation services provider Hawker Pacific for $250 million, the company announced on May 2. The deal was announced on April 11.

As part of this acquisition, Jet Aviation will add 19 locations across Asia-Pacific and the Middle East to its global network, including seven FBOs, 14 MROs, and more than 400,000 sq ft of hangar space, as well as Hawker Pacific’s 800 employees. This includes Hawker Pacific’s share in the joint venture Shanghai Hawker Pacific Business Aviation Centre at Shanghai Hongqiao Airport, four FBOs in Australia (Sydney, Brisbane, Cairns, and Perth), and facilities at Singapore Seletar Airport and Dubai Al Maktoum International Airport. It will also build a full-service facility at Shanghai Pudong International Airport upon completion of the new runway there.

The acquisition comes at a time when FBO consolidation in North America has slowed, following decades of continuous activity. For Jet Aviation, one of the largest networks in the international FBO/MRO arena, the move establishes a solid presence in a region of the world that has long shown promise, but now appears to be that much closer to realizing its potential. With the Chinese government showing signs of easing airspace restrictions; committing to airport and infrastructure expansion; and with an overzealous tide of anti-corruption activity ebbing, Jet Aviation's timing is believed to be fortuitous.

“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,” said Jet Aviation president Rob Smith. “Bringing together these two well-established brands reinforces our position as one of the world’s leading business aviation service providers.”