Great Lakes Airlines (Cheyenne) has sold its entire asset inventory to regional US air cargo carrier Alpine Air Express (AIP, Provo) (AAE) for an undisclosed sum. Great Lakes Airlines ceased scheduled passenger flight operations in March 2018 citing a lack of suitably trained flight crews.
AAE said in a statement that as part of the deal, it acquired Great Lakes Airlines’ 28 aeroplanes as well as related engines, propellers, spare parts and ground support equipment.
"During the last several years, I have been negotiating hard to facilitate the Next-Gen Alpine. As you know, we invested in the D-Model STC to differentiate ourselves and secure our collective future," Alpine CEO Michael Dancy said.
"I'm happy to announce the acquisition of ALL the assets of Great Lakes Airlines. Included in the purchase are twenty-six Beech 1900D models and two E120s, well over 20,000 Be-99/Beech 1900C/1900D/EMB120 spare parts, production and inspection tooling, engine overhaul tooling, propeller parts and tooling, tugs, vehicles, and a ton of infrastructure. Basically, everything that can move is being crated up and relocated to Billings, Montana. This is a huge successful moment for our company."
Dancy said the plan is to convert the Beech 1900Ds into freighters to assist the airline in expanding its cargo operations.
Headquartered in Provo, Utah, Alpine is a Part 135 air cargo operator catering to the Mountain Region of the western US. It currently has multiple contracts with the United States Postal Service and with United Parcel Service. Its routes include service throughout the western United States. It transports mail packages and other time-sensitive cargo as one of the largest regional air-cargo providers in the US.
Alpine is a portfolio company of AE Industrial Partners, LP (AEI), a private equity firm specializing in aerospace, defence & government services, power generation, and specialty industrial markets.
