Story ID: AN4112912alerts
Hangar8 Buys Competitor International JetClub
By: Chad Trautvetter
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Word Count: 62
UK-based aircraft charter and management company Hangar8 has acquired Farnborough-based aircraft management company International JetClub (IJC) for about $1.8 million in cash. The acquisition takes the company’s number of aircraft under management from 40 to 50, of which four are helicopters and 22 are large-cabin, long-range jets. Hangar8 also announced its year-end results yesterday, showing a 32-percent increase in gross profits to $7.5 million.