Ocean Sky's ambition to become one of the top three business aviation service providers in Europe have taken a step closer following the acquisition of fixed-base operators in Spain and Italy.
The London, UK-based company has snapped up Spain's Aviation Handling Assistance - which has FBOs in Ibiza, Valencia and Mahon, on the island of Menorca - and has signed a letter of intent to buy a controlling stake in Bologna, Italy-based FBO Euroloa.
The latest deals bring Ocean Sky's European FBO tally to 13. A further three Spanish bases will be added before the end of the year, says the company.
Ocean Sky has also acquired Italian company Open Sky Italy, which will become the legal foundation for its new Italian subsidiary and help to facilitate the company's charter, brokerage and management business throughout the country. The company will be rebranded Ocean Sky Italy by the end of May.
"The new jet centres in Spain and Italy underpin a strategy to expand Ocean Sky through acquisition into one of the top three full service aviation companies in Europe," says the company, which announced last month a £10 million ($15.3 million) cash injection from shareholders to fund the growth.
Earlier this month Ocean Sky signed a multi-million pound deal to buy one of Monarch Aircraft Engineering's two hangars at London Luton airport. The 4,275m2 (46,000ft2) hangar gives Ocean Sky sought-after space at the site - doubling its apron area to 11,615m2 and giving it stand capacity for up to 20 aircraft.
The ex-Monarch-owned building also allows Ocean Sky to operate a second full engineering facility for Bombardier business aircraft on top of the one at its Manchester Jet Centre.
The company is also keen to extend this offering to other airframers - notably Dassault - at a later date.
Source: Flight International
