Pivot Airlines (ZX, Toronto Pearson) has been fully acquired by Pivot Holding Company Canada Inc. from Binder Capital Corporation, the holding firm announced on June 10, 2024.
The Canadian Transportation Agency (CTA) authorised the transfer of 100% of Pivot shares from Binder Capital Corporation to Pivot Holding Company Canada, a new ownership consortium. Canadian investors, including existing Pivot management, will hold 75.1% of the carrier, and Smart Green Aviation Group, a Boston-based aviation company, will have the remaining 24.9%.
Under the new ownership, the ACMI specialist will increase its current fleet with the recent addition of three aircraft, including its first DHC-8-Q400, and the first two CRJ200 from Alberta Aviation Capital, ch-aviation reported.
The company is currently in the process of adding the Q400 to its Transport Canada certificate, which will position Pivot for returning to the scheduled airline sector, it said in a statement.
Additionally, the company announced the establishment of a new maintenance and charter crew base in Kitchener alongside Fliteline Services starting on June 1.
“We have been interested in moving our maintenance base and commencing scheduled airline services from Kitchener for some time now, and this transaction provides us with the first opportunity to do so,” said Eric Edmonson, Pivot Airlines CEO. He added that there’s a significant unmet need and demand from the Waterloo region in Southern Ontario, and the partnership with Fliteline will provide them with experienced local maintenance personnel.
