| Jet Aviation has announced that they have been sold, | | | | American facilities are capable of providing expert |
| pending antitrust clearance, to the Permira Funds a | | | | airframe support to just about any type of business |
| leading international private equity specialist. Ending | | | | aircraft.2. Completion Centers. Some or all of the |
| several years of speculation, the Zurich based | | | | company's award winning completion centers are |
| operator of business jet services has finally | | | | thought to be highly marketable. From the Boeing BBJ |
| accomplished what had long been expected: the sale | | | | to the Gulfstream 550, and to the Sikorsky S-70A |
| of the Hirschmann family business to outsiders.As | | | | aircraft delivered "green" to Jet Aviation facilities are |
| early as 2000 the sale of Jet Aviation had been | | | | outfitted with state of the art interiors.3. FBOs. Jet |
| expected by employees as well as by industry | | | | Aviation's group of fixed based operations which |
| insiders. Indeed, Jet Aviation management had been | | | | provide domestic and international flight handling, line |
| marketed openly throughout 2001 by Goldman Sachs, | | | | maintenance services, refueling, passenger and crew |
| but the sale was cancelled when a suitable buyer was | | | | transportation, catering and hotel accommodations and |
| not found and the terrorist attacks put a further drag | | | | immigration and customs services are an important |
| on an already downturning economy. Still, rumors of | | | | asset for the company. Indeed, the Dubai facility -- Jet |
| the sale of the company persisted and heated up | | | | Aviation's newest FBO -- is considered by some to be |
| recently with speculation that one of Warren Buffet's | | | | unmatched in the industry.4. Jet Professionals. Founded |
| companies, i.e., Gulfstream Aerospace, may have been | | | | in 1983, Jet Professionals -- an aviation personnel |
| interested in the company's maintenance | | | | service provider -- became part of Jet Aviation as |
| facilities.Currently, Jet Aviation is a Zurich-based | | | | part of the acquisition of K-C Aviation Transportation |
| concern employing 3500 people worldwide. US | | | | Services in 1996.5. Aircraft Management. Over 160 |
| operations remain strong with the bulk of the | | | | aircraft worldwide are managed by Jet Aviation |
| employees working out of Teterboro [NJ] Airport.Even | | | | including more than 50 in the US alone. Many of these |
| with the probable sale of the company to Permira, | | | | aircraft are also available for charter. US operations |
| speculation is persisting as to what will become of the | | | | could be sold to Jet Aviation's strategic partner, New |
| company after the sale is completed. Some industry | | | | World Jet Corporation, a FAR Part 135 charter |
| leaders believe that the company is more valuable for | | | | certificate operator.In all, the sale of Jet Aviation ends |
| its parts than as a single entity. Thus, parts of the | | | | one big area of speculation while, at the same time, it |
| company could be sold off and a scaled down Jet | | | | has opened up other areas. In the world of business |
| Aviation might remain in place. Areas of the company | | | | aviation speculation is business as usual.Matthew |
| thought to be susceptible to a sale include:1. US | | | | Keegan is The Article Writer who writes on just about |
| Maintenance Facilities. With prime locations at Bedford, | | | | any and every issue imaginable. |
| Teterboro, West Palm Beach, and Dallas the | | | | |