Jet aviation sale in home stretch

Aviation International News » October 2002
May 7, 2008, 7:07 AM

3i, a UK-based investment holding company, is reported to be the front- runner in the race to buy Swiss-based Jet Aviation, according to a report in TheDeal.com. The online business publication wrote that Warren Buffett’s Berkshire Hathaway, which also owns NetJets and FlightSafety International, had made a one-time, take-it-or-leave-it offer of $480 million for Jet Aviation. A spokesman for NetJets has since told AIN that Berkshire Hathaway is not interested in Jet Aviation. The 3i offer was reported as $500 million, roughly eight times Jet’s earnings, and is expected to be completed this month. 3i’s previous dealings in aviation consist of the purchase and subsequent sale of a low-cost UK airline. Jet Aviation has substantial interests in charter, management, maintenance, completions and FBOs.

FILED UNDER: 
Share this...

Please Register

In order to leave comments you will now need to be a registered user. This change in policy is to protect our site from an increased number of spam comments. Additionally, in the near future you will be able to better manage your AIN subscriptions via this registration system. If you already have an account, click here to log in. Otherwise, click here to register.

 
X