Word spread quickly throughout the business aviation community when an ad on the eBay auction Web site appeared on November 19 offering Millville Jet Center in New Jersey for sale at $2.5 million. By the end of the day the ad had been withdrawn, but according to Millville president Cliff Russell, “It generated a lot of telephone calls.” Russell said his maintenance business is down 30 to 40 percent from last year. Millville services Worldwide Jet’s aircraft (also owned by Russell) and did a lot of business with the fractional operators but their business has slowed, too. Russell said he is not really looking to sell the Millville operation but would like to find either an operator interested in buying into the business to serve its own fleet or another maintenance company to use Millville’s excess capacity to meet their demand. “I have 70 employees who I don’t want to have to lay off,” Russell explained. “While we’re financially OK right now we won’t be able to go on forever this way,” he said.
Millville Jet Center in $2.5 Million eBay Auction
- November 26, 2008, 5:56 AM