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Posted by Wetaskiwin Airport - April 1, 2010 at 4:15 pm

Categories: Business, Money   Tags:

Jet Aviation Sold to Permira Funds

Jet Aviation has announced that they have been sold, pending antitrust clearance, to the Permira Funds a leading international private equity specialist. Ending several years of speculation, the Zurich based operator of business jet services has finally accomplished what had long been expected: the sale of the Hirschmann family business to outsiders.

As early as 2000 the sale of Jet Aviation had been expected by employees as well as by industry insiders. Indeed, Jet Aviation management had been marketed openly throughout 2001 by Goldman Sachs, but the sale was cancelled when a suitable buyer was not found and the terrorist attacks put a further drag on an already downturning economy. Still, rumors of the sale of the company persisted and heated up recently with speculation that one of Warren Buffet’s companies, i.e., Gulfstream Aerospace, may have been interested in the company’s maintenance facilities.

Currently, Jet Aviation is a Zurich-based concern employing 3500 people worldwide. US operations remain strong with the bulk of the employees working out of Teterboro [NJ] Airport.

Even with the probable sale of the company to Permira, speculation is persisting as to what will become of the company after the sale is completed. Some industry leaders believe that the company is more valuable for its parts than as a single entity. Thus, parts of the company could be sold off and a scaled down Jet Aviation might remain in place. Areas of the company thought to be susceptible to a sale include:

1. US Maintenance Facilities. With prime locations at Bedford, Teterboro, West Palm Beach, and Dallas the American facilities are capable of providing expert airframe support to just about any type of business aircraft.

2. Completion Centers. Some or all of the company’s award winning completion centers are thought to be highly marketable. From the Boeing BBJ to the Gulfstream 550, and to the Sikorsky S-70A aircraft delivered “green” to Jet Aviation facilities are outfitted with state of the art interiors.

3. FBOs. Jet Aviation’s group of fixed based operations which provide domestic and international flight handling, line maintenance services, refueling, passenger and crew transportation, catering and hotel accommodations and immigration and customs services are an important asset for the company. Indeed, the Dubai facility — Jet Aviation’s newest FBO — is considered by some to be unmatched in the industry.

4. Jet Professionals. Founded in 1983, Jet Professionals — an aviation personnel service provider — became part of Jet Aviation as part of the acquisition of K-C Aviation Transportation Services in 1996.

5. Aircraft Management. Over 160 aircraft worldwide are managed by Jet Aviation including more than 50 in the US alone. Many of these aircraft are also available for charter. US operations could be sold to Jet Aviation’s strategic partner, New World Jet Corporation, a FAR Part 135 charter certificate operator.

In all, the sale of Jet Aviation ends one big area of speculation while, at the same time, it has opened up other areas. In the world of business aviation speculation is business as usual.

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Posted by Wetaskiwin Airport - March 29, 2010 at 8:08 pm

Categories: Airlines, Business, Transportation   Tags: , , , , , , , ,

Flying High

Traveling can be a wondrous experience that has the capacity to broaden one’s perspective about life through numerous new experiences and discoveries along the course of a journey. It can also be very taxing and costly which is why there are quite a number of people who just dream continuously about dream vacation they will never take.

A lonely planet

While the earth is essentially a lonely planet in it’s galaxy being the single planet that hosts the most diverse life forms and unique biodiversity, one need not be lonely in this lonely planet. Go out and explore the only world you’ve got, making the most out of life by seeing the bigger picture through extensive travels.

The book called Lonely Planet has a version for each country in the world that will help you, the adventurous traveler, a new world to explore at every turn– inexpensively.

A lonely bank account

Although the lure of adventure and discovery is strong, the pull of the reality that you may not be able to afford destinations despite the help of travel guides such as the lonely planet tends to rain on one’s parade. One of the biggest spends in traveling is actually the price of an airline ticket. Not to mention that purchasing one may prove to be a hassle if you have to buy one on your own and not go through a travel agent to be able to cut costs.

Fortunately, this need not be the case. With a little prudence and some flexibility, you can finally reach that dreamed of destination without having to take out a second mortgage on your loan.

Be Alert

So you’ve researched extensively on your destination and found the proper accommodations and have all the off-beat trips written down. While doing that, you should’ve kept your eyes and ears peeled for airline ticket promotions and chances are, you have found them. There are usually limited-time promotions from airlines and they advertise these in the papers and send email blasts.

The wisdom of the bamboo

Learn to be as flexible as the bamboo and get that airline ticket dirt cheap because of it. Find out what are usually the cheapest days to fly and book your tickets then. Also consider taking late night or very early morning flights with at least one stop and you can be sure that these will be discounted.
Check the package

Sometimes airlines will have travel packages that include accommodations and transportation bundled into the air line ticket price and these allows you to be able to save up on other expenses so be sure to ask your air line for these promotions.

The early bird

In this case, the early bird will not catch the worm but will land a discounted air line ticket by booking early. There are advance ticket discounts available if you reserve twenty-one days in advance.

Fly!

So you have everything in tow and have landed the best deals for your travel destination which includes a great bargain on your airline ticket. Don’t forget to make a checklist so as not to forget anything and avoid inconveniences. Remember that all you need to bring are the essentials: passport; airline tickets; traveler’s checks; a sense of fun and adventure. And if things don’t go as smoothly as planned during your trip, remember that it’s the journey, more than the destination that counts.

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Posted by Wetaskiwin Airport - March 10, 2010 at 6:42 pm

Categories: Airlines, Business   Tags: , ,

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