Jetcraft Is Largest Broker after ExecuJet Aircraft Buy
Raleigh, N.C.-based Jetcraft announced today that it acquired the aircraft brokerage activities of ExecuJet Aircraft Trading (EAT) from Zurich-based ExecuJet Aviation Group for an undisclosed sum. According to Jetcraft, this deal makes it “the world’s largest business aircraft brokerage company.”
Chad Anderson will remain president of Jetcraft, while Andrew Hoy, EAT’s former managing director, will oversee sales in Europe, Africa and the Middle East. The combined Jetcraft sales force now includes 20 senior sales executives–as well as another 20 sales, technical and marketing support staff–located in offices worldwide. The rest of each company’s sales team will remain in place “to create an unmatched sales network, serving clients globally.” Aircraft sales listings of both companies will be immediately co-marketed, with full administrative integration expected to be completed within six months.
Meanwhile, ExecuJet Aviation Group CEO Niall Olver said the divestiture completes its exit from aircraft sales, which it entered in 2010 when it relinquished its Bombardier sales representation, and allows it to focus on “a diverse range of value-added services, including FBO, MRO, completions and aircraft management.” He told AIN that ExecuJet will “continue to invest in our MRO and FBO businesses, as well as continuing to expand our aircraft management fleet, which now numbers approximately 180 aircraft and growing.”