Arcadia Group

June 15, 2010 - 12:47pm

Arcadia Aviation this afternoon said it has signed a binding letter of intent to acquire certain assets and operations of Wayfarer Aviation, which was set to shut down last Friday. However, Arcadia provided bridge financing to allow uninterrupted continuation of Wayfarer’s services in advance of the signing of the purchase agreement. The deal announced today is subject to the execution of a definitive asset purchase agreement by both parties.