Story ID: 
Jet Aviation Acquires Avjet
By: Curt Epstein
Caption: With the purchase, the General Dynamics subsidiary will add 45, mainly large-cabin, business jets to its aircraft management and charter division.
Word Count: 259
Jet Aviation has bolstered its U.S. aircraft management and charter services with today’s announcement of the purchase of Los Angeles-based provider Avjet. Upon regulatory approval, the deal whose value was not disclosed, will provide a key addition to the company’s existing charter/management operations, which includes locations in Teterboro, N.J., Van Nuys, Calif., Zurich, Hong Kong, and Dubai.

“Avjet’s 37-years of experience in aircraft management and charter services and impressive fleet of 45 aircraft makes it the perfect complement to Jet Aviation’s operations,” said David Paddock, the General Dynamics subsidiary’s senior vice president and general manager for U.S. aircraft services. “This acquisition will provide excellent benefits for Avjet’s customers by providing access to Jet Aviation’s global network of service facilities.”  Avjet’s fleet ranges from Boeing Business Jets and Gulfstream 650’s down to Hawker 800’s.

Current Avjet chairman and CEO Marc Foulkrod will retain ownership of the company’s aircraft sales and brokerage unit, which will continue to operate under the name Avjet Global Sales. “This acquisition meets my plans to expand our global sales, acquisition and brokerage services while allowing Jet Aviation to continue Avjet’s tradition of excellence in aircraft management and charter services,” Foulkrod said.

This latest purchase is part of Jet Aviation’s recent focus on the “left coast.” Last month, it received permission from authorities to establish its first West Coast FBO, a $40 million facility at Van Nuys Airport, which will also include a Gulfstream service center.