EBACE Convention News

Gestair to buy new jets worth up to $60 million

 - May 23, 2007, 12:15 PM

Spain-based Gestair Private Aviation is planning on buying up to $60 million worth of new business jets in the 2007 to 2010 time period, general manager Fernando Flores told EBACE Convention News here on Tuesday. These aircraft will be midsize and very light jets (VLJs).

Next year, Flores said he wants to order five jets. As for VLJs, he said the company is carefully studying the needs of potential customers in small- or medium-size businesses. He hinted that choosing the right model was both difficult and critical.

The company operates 30 aircraft, one third of them large-cabin bizjets such as Gulfstreams, Falcons and Bombardier Global Expresses. The fleet also includes midsize Hawkers and light Citations. Gestair’s three helicopters are light Eurocopter models.

Another $60 million, of a total of $115 million, will be spent in company acquisitions. For example, Gestair wants to strengthen its FBO network in Spain. “We are also looking at acquisitions in the top 12 European countries,” Flores said. These acquisitions could be other operators or maintenance firms.

Additional investment will go to FBO expansion and refurbishing in Barcelona and Madrid.