UK business aviation services company Ocean Sky has taken a majority stake in German aircraft management and charter company Triple Alpha for an undisclosed sum.
The deal opens the lucrative German business aircraft market to Ocean Sky and brings to 32 the London-based company's managed fleet. Ocean Sky Aviation chief executive Kurosh Tehranchian says: "The deal will mean a company fleet unrivalled in its range: from the Citation Mustang very light jet through to the Airbus A319 Corporate Jetliner."
Ocean Sky says it will immediately inject €1.8 million ($2.56 million) into the business as working capital to strengthen its finances. Tehranchian says further acquisitions will follow. "The landscape for aircraft operators in Europe is going to change fundamentally, with consolidations and acquisitions creating a superleague of major players coming out of this recession. Ocean Sky will be one of them," he adds.
Triple Alpha co-founder Hans Pfeiffer agrees. "What we have done is recognise the changes ahead. It's a win-win for us to be with Ocean Sky," he says.
Erik Scheidt, company co-founder and joint general manager, says: "We are excited to be able to expand our operation even more rapidly and access areas where we do not already have a footprint. We are very strong in terms of operations. Ocean Sky is very active in its fixed-base operations and maintenance. This is what we need and could not have achieved on our own."
Triple Alpha will continue to trade under its current company name as part of the Ocean Sky Group. Both co-founders will remain with the company.
Source: Flight International
