Avfuel Corp., a leading independent supplier of aviation fuels and services, has entered into an agreement with Texaco to purchase its general aviation business in California, Alaska, Washington, Idaho, Nevada, Oregon, Utah, Arizona, Louisiana, Mississippi, Alabama, Georgia, Florida and Tennessee. The divestiture is one of the Federal Trade Commission requirements that will allow for the merger of Chevron and Texaco.
Mergers and acquisitions
Many business gurus believe knowledge is power, but the ability to transform that wisdom into action is the real measure of success. With just that goal in mind, 17 general aviation business leaders–CEOs, presidents, CFOs and operations managers–gathered at Northwestern University’s Transportation Center recently for the Strategic Management for Aviation Service Firms conference.
The future of both the aero-structures and structural engine component businesses belongs to an elite group of so-called Super Tier 1 suppliers/strategic partners.
Charter operator AirNet Systems has expressed “disappointment” at failing to reach a merger agreement with an undisclosed private-equity firm. The firm said it will now focus on “continuing to operate as an independent company,” although it remains open to offers from a “qualified potential acquirer.” Columbus, Ohio-based AirNet operates some 130 business aircraft in passenger charter and small-package delivery operations.
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