Gama Aviation Plc, the global aviation services company, has announced to the London Stock Exchange its acquisition of FlyerTech and Aerstream Limited for a total initial consideration of GBP3 million.
The CAMO (continued airworthiness management organisation) is central to all aircraft operators including airlines, business aviation and the military in their management of an aircraft's maintenance and its subsequent airworthiness certification.
Mark Hamment, group quality and airworthiness manager, Gama Aviation Plc, commented: “The CAMO has the mandate to audit, analyse and advise; creating savings for owners during an aircraft's lifecycle, adding value to its sale and obviously ensuring regulatory compliance. This highly influential position within the aircraft ownership value chain, the businesses existing blend of contracted and project revenues, and our own organic fleet growth makes this deal intrinsic to the group's growth ambitions.”
The deal adds considerable coverage, with the group now able to provide airworthiness management services across a wide range of aircraft types from the piston engined Cessna 150s to the Boeing 747 and Airbus A340 series. Gama Aviation's expertise in this area has already previously secured (with Atkins) a three to five year contract with the RAF as part of the UK's Military Aviation Authority's Airworthiness Review regulations. This requires annual Airworthiness Reviews on each allocated aircraft focusing on the continuing airworthiness management activities carried out on the aircraft since the last review. The contract is due to end between 2018 - 2020.
Gama Aviation Plc, chief executive, Marwan Khalek, said: “This acquisition is an excellent strategic fit for the group, allowing us to extend and enhance our airworthiness management product offering to our managed and external customers in this highly specialised segment,"
Rick Fieldwick, FlyerTech's chairman said: “I'm confident that Gama Aviation will offer opportunities to FlyerTech and its employees that would not have been available otherwise. In particular with the uncertainty of moving out of the EU, I firmly believe that FlyerTech's future will be more secure working within a larger corporate environment.”
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