Gama Aviation (GMA, Farnborough) has confirmed it is in discussions to acquire Austrian aircraft management and charter operator Tyrolean Jet Service (TJS, Innsbruck). Gama confirmed the talks in a May 24 filing with the London Stock Exchange, saying it was aware of "industry market speculation."
Gama's "interest in Tyrolean Jet Service is consistent with the Group's strategy to grow its aircraft management and charter business," the filing reads. "Discussions between the Group and Tyrolean are ongoing and remain subject to further negotiations, diligence, and board approval. As such, they are not expected to be concluded until after the company delists from AIM."
Gama Aviation, which operates aircraft management, charter, FBO, and MRO businesses, is in the process of delisting from the Alternative Investment Market (AIM), an LSE sub-market for small and medium-sized growth companies. This follows a successful share buyback programme that will consolidate ownership to the two top shareholders.
Tyrolean Jet Group has air operator's certificates (AOCs) in Austria, San Marino, and Malta. After dabbling in various businesses over the years, the company focuses on international and private jet charters and is responsible for the ownership, air charter operations, and aircraft management for third-party clients. According to its website, its fleet of business jets includes Cessna Citations, Citation XLS+, and Embraer Phenom types.
