Ocean Sky receives new capital

 - May 10, 2010, 5:42 AM

UK-based business aviation services group Ocean Sky has received a £10 million ($15 million) injection of fresh capital from its private shareholders. The company will use the money to fund an ambitious expansion of its FBO and aircraft maintenance activities across Europe and intends to announce these plans later this month. “This investment will allow us to take advantage of our commercial strength and the weaker wider economy to make valuable, previously targeted acquisitions,” said Ocean Sky CEO Stephen Grimes. 

Ocean Sky already has FBOs trading under the name Jet Centre at London Luton Airport; Manchester; and Prestwick Airport near Glasgow, Scotland. It wants to attract more North American and Middle Eastern operators to its FBO. The company operates a Bombardier-authorized service center in Manchester and provides line maintenance at Luton. “The value of our jet centers lies not just in the quality of service we provide to customers, but also in the high level of maintenance skills we apply to aircraft. That is something we want to build on,” he said. Ocean Sky also aims to increase the size of its managed fleet from 30 to 40 aircraft by year-end. It already operates jets ranging in size from an Airbus Corporate Jetliner to a Cessna Citation Mustang.