Nimbus and Horizons drop merger plan

 - May 7, 2008, 7:09 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, and Miami-based Holding company Horizons Aviation have terminated their August letter of intent in which Horizons would own a controlling share of Nimbus. Horizons Aviation chairman and CEO Omar Botero told AIN that after further investigation, he determined that the transaction “would not be in the best interest” of his company. Horizons Aviation operates Turbine Support International at Vero Beach, Fla. A spokesman for Nimbus did not return our call, but the company continues to maintain that its “strategic plan is to make personal jet travel broadly affordable through the Americas.”