Signature expands European network
Signature Flight Support has expanded its fast-growing European FBO network further with the acquisition of the Executive Aircraft Services (EAS) facility at London Heathrow Airport. Signature’s parent group, BBA Aviation, is set to buy the operation for $8.1 million (£4.5 million).
EAS is one of two FBOs providing handling for business aircraft at Heathrow and it competes with Harrods Aviation. For the latest financial year, which ended on September 30, EAS’s revenues were $3.9 million (£2.2 million).
Following the abolition of ad hoc slots at Heathrow several years ago, access to London’s main gateway became extremely difficult for business aviation and much of the traffic migrated to other airports around the UK capital. However, the post-9/11 dip in airline traffic has since made it somewhat more feasible for corporate and executive charter operators to use Heathrow.