Story ID: 370 ABACE
Jet Aviation To Buy Hawker Pacific
By: Curt Epstein
Caption: The blockbuster, $250 million deal, includes the company's FBOs, MROs and other services in Asia and the Middle East
Word Count: 329
Ahead of the start of NBAA’s Asian Business Aviation Conference and Exhibition (ABACE), Jet Aviation announced plans to purchase purchase business aviation services provider Hawker Pacific for $250 million. Included in the deal is Hawker Pacific’s share in the joint venture Shanghai Hawker Pacific Business Aviation Centre, the FBO/MRO at Shanghai’s Hongqiao International Airport, which has played host to the ABACE show for the past seven years.

“The acquisition of Hawker Pacific represents a significant step in expanding our footprint, capability and customer offerings across Asia-Pacific and the Middle East,” explained Jet Aviation president Rob Smith. “Hawker Pacific has a wide range of services including civil MRO, fleet services, FBO network and aircraft sales, enabling Jet Aviation to further expand its current portfolio, enter new markets, and reinforce the company’s position as one of the world’s leading business aviation service providers.”

Hawker Pacific also provides ground handling for business aviation at Shanghai’s Pudong International Airport and expects to build a full-service FBO there upon completion of the airport's new runway.

In addition, Hawker operates FBOs at four locations in Australia (Sydney, Brisbane, Cairns, and Perth), as well as in Singapore at Seletar Aerospace Park (where Jet Aviation is already well established), and has offices and maintenance bases throughout the region as well as Dubai, offering scheduled and unscheduled maintenance and AOG services.

“We believe the company’s acquisition by Jet Aviation represents an excellent outcome for Hawker Pacific’s investors, employees, and customers,” said Alan Smith, Hawker’s CEO. “It builds on our strong values and passion for exceeding our customers' expectations, and I, on behalf of the management, am confident that the combination of the two companies will create a clear leader in the aviation space.”

Pending customary closing approvals, the deal is expected to be completed by the end of May.

 

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