Ahead of the Asian Business Aviation Conference and Exhibition (ABACE) next week, General Dynamics subsidiary Jet Aviation announced plans to purchase business aviation services provider Hawker Pacific for $250 million. Included in the deal is Hawker Pacific’s share in the joint venture Shanghai Hawker Pacific Business Aviation Centre, the FBO/MRO at Shanghai’s Hongqiao International Airport that has played host to ABACE for the past seven years.
“The acquisition of Hawker Pacific represents a significant step in expanding our footprint, capability, and customer offerings across Asia-Pacific and the Middle East,” explained Jet Aviation president Rob Smith. “Hawker Pacific has a wide range of services including civil MRO, fleet services, FBO network, and aircraft sales, enabling Jet Aviation to further expand its current portfolio, enter new markets, and reinforce the company’s position as one of the world’s leading business aviation service providers.”
Hawker Pacific also provides ground handling for business aviation at Shanghai’s Pudong International Airport and expects to build a full-service FBO there upon completion of the airport's new runway.
In addition, Hawker Pacific operates FBOs at four locations in Australia (Sydney, Brisbane, Cairns, and Perth), as well as in Singapore at Seletar Aerospace Park (where Jet Aviation is already well established), and has offices and maintenance bases throughout the region, as well as in Dubai, offering scheduled and unscheduled maintenance and AOG services.
“We believe the company’s acquisition by Jet Aviation represents an excellent outcome for Hawker Pacific’s investors, employees, and customers,” said Alan Smith, Hawker Pacific’s CEO. “It builds on our strong values and passion for exceeding our customers' expectations, and I, on behalf of the management, am confident that the combination of the two companies will create a clear leader in the aviation space.”
Pending customary closing approvals, the deal is expected to be completed by the end of May.