Khalek added, “The board and I have long since believed that the group has significant underlying value, and the resultant proceeds from this transaction clearly affirm this perspective.”
He also highlighted the broader strategic implications of this deal, stating, “This deal provides Gama Aviation the appropriate capital to allow us to capture the tremendous opportunities we have in our Special Mission, Technology & Outsourcing, and Business Aviation strategic business units.”
Gama Aviation, a company listed on the London Stock Exchange, has announced that the sale is subject to shareholder approval. A general meeting has been scheduled for November 3 to seek this vital approval. An encouraging factor for the deal is that shareholders representing 50.3% of its shares have already committed to voting in favor of the agreement, slightly surpassing the required 50% mark.
Gama Aviation’s journey led to this significant transaction, having acquired Jet East in 2021 for around $12 million. This purchase followed the sale of its U.S. aircraft management business to WheelsUp. Gama consolidated Jet East’s operations with its existing maintenance activities in the United States, investing a noteworthy $25 million to support its growth. This investment also facilitated the establishment of new facilities in Millville, New Jersey; Las Vegas; and Statesville, North Carolina.
