Chad is the editor of AINalerts, AIN's daily business aviation newsletter, and is also the news editor at AIN Media Group.&nbsp;He has been writing about aviation, with an emphasis on business aviation, since 1994. Chad started his writing career at The Avion,&nbsp;the&nbsp;student newspaper at Embry-Riddle Aeronautical University in Daytona Beach, Florida, serving as editor-in-chief before graduating with a bachelor's in aeronautical science. After a stint as managing editor at Professional Pilot&nbsp;magazine, he joined&nbsp;AIN in late 1998. Chad holds a commercial pilot certificated with instrument and multi-engine ratings, and he also is a CFI/CFII. He lives and works from his home in Venice, Florida.

Online Editor

Chad Trautvetter

San Francisco-based capital equity firm TPG Growth confirmed today that it signed a definitive agreement on December 30 to acquire Travel Management Co. (TMC Jets), an on-demand aircraft charter firm in Elkhart, Ind. TPG Growth, which also owns a stake in private jet membership firm XOJet, is acquiring TMC Jets for an undisclosed amount from founder Pete Liegl, who formed the company in 2006. The transaction is expected to close in the first quarter.

 


In February 2013, XOJet and TMC Jets <a href="http://www.ainonline.com/aviation-news/business-aviation/2013-02-12/travel-management-co-xojets-new-wingman">announced a commercial partnership</a>, though they have remained—and under the new ownership structure will continue to remain—separate entities, according to TMC president Scott Wise. In fact, he stressed TMC will continue to be “neutral” and work with leading broker distribution partners such as Apollo Jets, Sentient Jet, EJM/NetJets and XOJet.

 


Accordng to TPG Growth, the investment in TMC Jets as “an opportunity to further broaden its presence in private aviation, an industry that has seen multiple years of growth and improving sector dynamics.” TPG indicated that it plans to provide more capital for further investment in TMC, which could further expand its aircraft fleet.

 


TMC currently operates 68 wholly owned aircraft, including 36 Hawker 400XPs, 29 Hawker 800XPs, two Challenger 604s and a King Air 200. It also has an <a href="http://www.ainonline.com/aviation-news/business-aviation/2013-10-23/nextant-aero-celebrates-202m-deal-400xtis-nbaa">outstanding order with Nextant Aerospace</a> to convert its Hawker 400XPs to 400XTis. These conversions are currently on hold, Wise told AIN, but could move forward “at a later date.” He said there is a solid business case to add more Challenger 604s to the fleet.

 


"TPG is thrilled to partner with Scott Wise, Scott Henely and the entire TMC Jet team," commented TPG Growth managing partner Bill McGlashan. "TMC Jets has established its reputation and industry-leading position as the light and mid jet operator of choice to its brokering partners. We are excited to support and enable TMC's growth and development going forward."

News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

TPG Growth To Acquire Charter Firm TMC Jets

Firm is acquiring TMC Jets for an undisclosed amount from founder Pete Liegl, who formed the company in 2006.

2024 Corporate Aviation Leadership Summit

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News and issues concerning general aviation, specifically airplanes and helicopters powered by piston and alternative engines (i.e., non-turbine powered aircraft). Subjects include aircraft, engines, personnel, acquisitions, accidents, safety, security and training.

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FlyUSA Launches 'Freedom Jet Card'

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News about simulators and training procedures, as well as workforce.

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

Partners announce joint software integration initiative

Leon and UAS Seek to Streamline Trip Management

News about environmental issues relating to aircraft operations, including noise issues, emissisions, and regulations. See Fuel for biofuel.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

Customers have the option of paying extra for sustainable aviation fuel

Victor Launches Arabic Charter Flight Booking App

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Luxaviation Joins IBAC Industry Partner Program

Peter Shaw-Smith

News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA re-authorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.

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