Story ID: 
Signature Acquires Virgin Islands Bases
By: Curt Epstein
Caption: The world's largest aviation service provider has struck a deal to buy the St. Thomas Jet Center and its Alliance Aviation affiliate.
Word Count: 232
Signature Flight Support has increased its footprint in the Caribbean, with an agreement to acquire the full-service St. Thomas Jet Center, an FBO at Cyril E. King-Charlotte Amalie Airport, which also operates the lower-cost service provider Alliance Aviation at the field.

According to the BBA Aviation subsidiary, the purchase will take place in two phases, with Signature now owning 49 percent of the business, and the remainder to be acquired over the next 14 months. The deal also includes the company’s Jet Set Rental Cars division and its Tri Island Energy Fuel Logistics business.

After being pummeled by the twin Category 5 Hurricanes Irma and Maria last year, the St. Thomas Jet Center has repaired most of the damage. It offers an executive terminal and two hangars (8,000 sq ft and 16,200 sq ft), which are generally reserved for tenant aircraft.

“This agreement expands Signature’s growing presence in the Caribbean, a region where we have placed significant focus during the past few years,” said Mark Johnstone, group chief executive for BBA Aviation and CEO of Signature. “St. Thomas is a prime destination for our customers and complements our other locations in the region.”

Michael and Susan Hancock, who have owned the St. Thomas FBO for more than two decades, will remain with the business, along with the staff, for at least the next two years.