Miami Firm Might Take Control of Nimbus Group

 - May 5, 2008, 6:36 AM

Nimbus Group, the Fort Lauderdale, Fla. company that recently failed to obtain sufficient financing to complete its proposed purchase of 1,000 Eclipse 500 entry-level twinjets, has signed a letter of intent to swap shares of stock with Miami-based Horizons Aviation. If the agreement is approved, the controlling shareholders of Horizons will own a controlling share of Nimbus. Horizons, a privately owned Miami-based holding company, owns four general aviation subsidiaries, but only one of them–Turbine Support International at Vero Beach, Fla.–is in operation. Horizons is preparing to re-launch a charter operation later this year, acquire an FBO and, early next year, start a Jetstream 31/32 fractional aircraft ownership program.

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