Macquarie Group has sold Aviation Technical Services (ATS) to members of the current senior leadership team and a handful of experienced aerospace investors. The new ownership group is headed by current president and CEO, Matt Yerbic, and is backed by Wells Fargo, NewSpring Capital and Greenpoint Technologies of Kirkland, Wash.
These days, everybody complains about the airlines: rotten food, TSA hassles, cramped seating, long delays, lost luggage. And while private jet travelers are a decidedly happier lot, they’ve been known to offer the occasional gripe as well: the charter flight lacked sufficient baggage space, the catering service overcharged, the FBO disappointed.
The results of a major bank merger are on display at the NBAA Convention. The aircraft-financing divisions of San Francisco-based Wells Fargo and Charlotte, N.C.-based Wachovia, which was acquired by Wells Fargo on December 31, are showcasing their offerings together in the exhibit hall.
American Express entered the business aviation charter market with the introduction of the Private Jet Charter Program for its Platinum Card and Centurion Card members. The program’s service provider is Le Bas International, with offices in Cambria, Calif., and Shannon, Ireland. Le Bas is an 11-year-old business aircraft travel broker affiliated with some 5,000 charter providers worldwide.