JetDirect Aviation Holdings on Tuesday evening announced that it signed an agreement to sell most of the assets of its charter/management company JetDirect Aviation to JDA Acquisition, signaling a possible solution to the financial problems that have plagued JetDirect during the recession. A group of investors led by Beachwood, Ohio-based Brantley Partners created JDA Acquisition. The sale is expected to be completed early next month. According to a company spokesman, JetDirect Aviation’s managed and charter fleet numbers about 160 aircraft, not including those operated by Sunset Aviation and Presidential Jets, two subsidiaries that JetDirect will sell to those companies’ original owner groups by tomorrow. JetDirect’s FBO in Chester County, Pa., will also be sold by then, and a letter of intent has been signed for the sale of JetDirect’s Dallas Love Field FBO. JetDirect employees who are owed money for expenses will be reimbursed this week and next week, the spokesman told AIN. Companies that Brantley Partners has been involved with include Corporate Wings, DeCrane Aircraft and Flight Options.
JetDirect Aviation Signs Sale Agreement
- February 19, 2009, 11:03 AM