KATE SARSFIELD / LONDON
Business jet charter company JetEquity is seeking to acquire Westchester County Airport, New York-based fuel supplier Skyport Services in an effort to broaden its charter and fixed-base operator (FBO) portfolio.
Jack Lambert, JetEquity director of business development, says: "We plan to expand the company, also based in Westchester, through outright ownership or joint-venture partnerships with established companies."
Skyport will boost JetEquity's "quasi FBO" business, which includes aircraft maintenance and hangarage, by allowing the company to sell fuel to operators across the airport. "We are limited to selling fuel to operators visiting our facility," Lambert says. This acquisition will therefore open a market and revenue stream that could be used to buy aircraft and other support companies.
JetEquity is striving to expand its charter operation nationwide though joint venture partnerships with FBO chains Mercury Air Center and Galaxy Aviation. "We would like to be the charter arm of Mercury [and Galaxy] and if successful we will expand our charter fleet," Lambert says.
JetEquity operates a Raytheon Hawker 800, Beechjet 400A and is scheduled to take delivery of a Gulfstream GIII in around six weeks. The company recently launched a volume-based block charter scheme called Partner Programme, where customers purchase between $100,000 and $200,000 of charter time. Only half of this amount is deposited with JetEquity, and customers pay the remaining half when flight hours are flown.
Source: Flight International
