Hangar8 Buys Competitor International JetClub

 - November 29, 2012, 3:35 PM

UK-based aircraft charter and management company Hangar8 has acquired Farnborough-based aircraft management company International JetClub (IJC) for about $1.8 million in cash. The acquisition takes the company’s number of aircraft under management from 40 to 50, of which four are helicopters and 22 are large-cabin, long-range jets. Hangar8 also announced its year-end results yesterday, showing a 32-percent increase in gross profits to $7.5 million.